noteworthy wrote:
dc0de wrote:

RESCUE them?

Please, if they can't afford the house, they shouldn't buy!!!

The "rescue" is not so much about the people who bought what they couldn't afford. They are a minority, although a substantial minority in some regional markets.

The problem is that the coming wave of foreclosures will depress the market value of all homes, including those of people who got fixed-rate mortgages and are making their payments on time.

Which is a natural process, we've been expecting the market to "turn" downward for several years, look at the Bankruptcies of Homebanc, IndyMac, and other big name players in the sub-prime market.

"Rescuing" these companies, and the consumers is like putting out a forest fire. It's a natural force of economy, and it needs to run it's course.

RE: Rescuing Mortgage Holders