Too bad that liberals will never understand why… Homeowners who should never have received a mortgage are re-defaulting, even after having their loan terms renegotiated. Meanwhile, to “bail out” the homeowner in this economic downturn the Congress is considering…. buying and renegotiating loans for homeowners nearing or in default. Go figure.
“The results, I confess, were [...]
Some straight talk, not from the “Straight Talk Express” or the “Messiah for Change,” but from an American entrepreneur:
Not all homeowners deserve to stay in their houses. Renting is a perfectly reasonable alternative, but the idea of Americans “losing their houses” is politically untenable. Why? Because America perpetuates a mistaken culture of homeownership. Owning your [...]
We could put the 10,000 brightest people in the world in a room to attempt to find the right solution to our economic problems and they still could not make a decision as wise as the result of millions of tiny decisions made every day in the market. Markets are efficient. They punish bad behavior and reward good behavior.
Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy.
Though politicians have worked hard to turn mortgage borrowers into America’s largest new victim class, in fact a good deal of our current financial trouble isn’t a result of predatory lending, according to Terry Jones, associate editor of Investor’s Business Daily. It’s a result of predatory borrowing. BasePoint Analytics, which looked at some 3 million [...]
