Just in case you didn’t know … and that’s why Pennsylvania Governor Ed Rendell thinks we need a mortgage bailout program. Not because you may have gone into too much home (and you knew it), and used your house like a credit card (irresponsibly), or hoped that the home’s value would just keep increasing and you could sell anytime. No, in the New Democrat world … you were just tricked … bamboozled … hoodwinked.
Oh and watch Governor Granholm bang her head on the table stunned that Sanford doesn’t like the plan.
BTW, Governor Rendell’s comment on judges restructuring second home mortgage paper. True, and on student loans and car loans too.
But, extending the power to first mortgages is indeed a dangerous extention, applying to a far greater number of people and far greater dollar amounts. What’s more it vastly increases the lenders risk when making mortgages now … and what happens when risk rises? HMMMMMMMMMM? Do you know?
Loading ...
From the owners: This section is for comments from Radio Vice Online's registered readers. Never assume the owners of this site agree with or otherwise endorses any particular comment just because we let it stand. Anyone who fails to comply with our terms of use - a must read if you wish to contribute here - may lose their posting privileges. Just because we've let a similar comment stand in the past does not mean we'll let it stand in the future.