Saturday, April 19, 2008

and it's FREE

It's all so simple, really.


“ The plan proposed by congressional Democrats would allow struggling borrowers to refinance their mortgages based on a lower value for their homes. While the lender would forgive a chunk of mortgage value, it would in return share in the benefits of any appreciation of the home, as would the FHA, which would back the refinanced mortgage. link ”
4/19/2008 10:06:00 AM 3 Comments

"If the number of Islamic terror attacks continues at the current rate, candlelight vigils will soon be the number-one cause of global warming. "
Argus Hamilton


Posted by at
Labels:

This will be the comment box

3 comments:

Anonymous said...

If I'm reading this correctly, the government would then own a portion of the home. I'll bet that gets some special tax privileges (as in, if the homeowner defaults again, does the State then pay property taxes, upkeep, prep for sale, etc.?)

This is not a good development at all. Socialism never is.

4/19/08, 11:21 AM
Anonymous said...

izzat ManBearPig come to rescue us all?

[then it oughta be snowing...

e~C

4/19/08, 11:37 AM
Anonymous said...

I don't agree with much of what Bearwatch says, but found this inciteful:

"The ancient Jewish law forbade perpetual debt-slavery for fellow-believers, and even provided for ceremonial debt forgiveness every 50 years (which, I imagine, had a feedback effect on the terms and length of loan agreements)."

4/19/08, 1:33 PM

Post a Comment

Post a Comment

Just type your name and post as anonymous if you don't have a Blogger profile.

Subscribe to: Post Comments (Atom)