Quote:
Originally Posted by afterburn 549
And YET the GOVT is Bailing banks cause they are not smart enough to change a way as to person can keep paying !! ??
OMG I am PISSED at the GOVT
I am pissed at the banks
^%%$#$YU**(()))))(*&^%$#$%^&
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What the hell are you talking about? Plenty of banks were forced to take bailout money and some have been prevented from paying it back. I've seen people post on chatboards that they're stopping mortgage payments just because their values have dropped, not because they can't afford the payments. If this happened with car depreciation, there'd be no reason to pay back any loan. If you can afford the payments, you have no reason to stop making them. Value or market price or ARM adjustments have nothing to do with it. Furthermore, anyone who can't calculate an ARM adjustment has no business getting an ARM. Not the bank's fault a borrower is illiterate.