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Politicians are scared

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Real Estate Agent with Keller Williams Realty Midmaine

People actually have a voice.  Because of the quick communication over the internet etc.  the general public can communicate and get things done.

I'm surprised at the Fox News view.  They keep saying you won't be able to get a credit card.  Which you shouldn't have anyway and businesses won't be able to finance operations.

When did it come about that you couldn't live without borrowing money? 

I think the American people want the banks to say, "no" you can't have more money.  We know we're living paycheck to paycheck because of our debt.

As long as people with good credit can get a mortgage, isn't that all we need.

 

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Anonymous
Anonymous

Thats just it-people with good credit may not be able to get a mortgage, or the ability to do so could be limited.  Why is all borrowing bad except borrowing for a home?  Also, businesses depend on commercial loans.  Student loans may also be at risk.

I agree, of course we shouldnt live on credit cards, but this goes way beyond that.

 

Sep 30, 2008 01:20 AM
#1
Gregory Lohr
West Columbia, SC

A lot of people don't know that this was a planned event.  I blogged about it on 8/1/08 as I knew it was coming.  No one really seemed concerned.  Those I told in person just scoffed at me.

I posted links to sites that let us know what was coming, but they only said it would be within 3 months, it did not give a date.  Here's the blog:
http://activerain.com/blogsview/620505/Something-to-be-concerned

Trust me...there was no way they going to bail us out of this on Friday or Monday...this was planned.  I knew when they went into deliberations that nothing would happen.  Did I mention that this was planned?  Read the blog...see what else is coming...click the links to the sites.  You will want to know.

Sep 30, 2008 01:24 AM
Sacramento Grapevine
SacramentoGrapevine - Roseville, CA

They should be scared.

 

You can place all your listings at www.SacramentoGrapevine.com for FREE to gain additional exposure to potential buyers.

Sep 30, 2008 01:33 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

They are scared.....They need to be leaders.  Tough times call for tough leaders.

Sep 30, 2008 01:34 AM
Jessica Tripp
Keller Williams Realty Midmaine - Wales, ME

Is it nice to be able to go get a loan and buy a car? Yes, until you're still making payments and your car breaks down.

I'm not saying we're in an Ideal situation.

But if the alternative is the country going in an enourmous amt of debt and it being on the taxpayers or worse, we owe more money to China.... that isn't better, is it?

Not to mention, the government now owning a pile of foreclosures.  You think those houses have fallen in value now?  By the time the government gets around to selling these houses, they will be worth a lot less.

Here's my plan

The KISS financial Solution.
Stop foreclosure for 3 months. Modify EVERYONE'S mortgage to 4% fixed for 15yrs. The banks don't lose their money and most people will be able to make their mortgage payments.
The extra $ will...  Read More go into the economy and the government will have more revenue because their will be less mortgage interest deduction.
This benefits all mortgagees, so responsible people don't get the short end of the stick.
It's a win win win!!
Oh and if the banks have borrowed the money to lend out, they repay at 1% lower than they're getting from their end user.

 

Sep 30, 2008 06:30 AM
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