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What We Think - New Bankruptcy Law Makes it Harder to Stop Foreclosure
What We Think
This is so unfortunate that families and individuals have to loose their homes and at the same time Corporations get bail out by the Federal Reserve. ScamFraudAlert.com is not anti-government or anti-capitalism.
The question here is "Should The FED Bail Out Corporations and leave Homeowners holding the bag?"Who's to blame - The Corporations that made the bad loans "Sub-Prime Loans?
- The homeowners or borrowers who wanted a home?
- Wall Street or Investors who saw a Gold Rush?
The reality is we all are to be blame. If homeowners are allow to go through foreclosures, then corporations should be allow to go out of business.
Take the retail or restaurant industry, whenever one closes shop, another new one open up within months. The Federal Reserve never bail out that industry. Regulations as much as we hate it is design to prevent such from happening.
The same should apply to Wall Street. The FED should stop bailing out Wall Street at our expense. If the FED is going to bail out Wall Street, then homeowners deserve a break. A REFUND, A MORTGAGE REFUND. A mortgage refund would allow Homeowners to use such refund as a down payment toward another home. It's time that lender ensure that borrowers or potential homeowners are not sub-prime borrowers.
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New Bankruptcy Law Makes It Harder To Stop Foreclosure
Last edited by Scrub; 12-31-07 at 11:17 PM.
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08-25-07, 04:03 AM
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