Mortgage bill faces tough road in Congress - Yahoo! News

Mortgage bill faces tough road in Congress - Yahoo! News


Truth is, the Republicans don't want homeowners to pay less interest. They would rather that the banksters take your home. These people who have never missed a payment are locked into a trap. And they are kept there by the Republicans because they are greedily in bed with the TBTF bankers.

There is no question that these homeowners are now under water. Allowing them to refi would cost the government money. But it is peanuts to what the bankers got in bailouts. And these folks paid their mortgages on time and are still getting screwed with the housing bubble, caused by the banks.

If the government cannot help here, boycott mortgages. Don't get one because house prices are volatile and could go up or down by thousands of dollars in a year. You are throwing the dice if you get a mortgage, especially a mortgage that stretches your budget. Beware people. 

The Republicans don't want to bail you out even if you are current. And the banks benefit in three ways, either getting government money for the refi or getting the mortgage payments as you are trapped by your high mortgage payment on a house worth little, or you walk away and they get their house back.

The  banks don't lose, but MainStreet is losing every day.

Update: Issues with the president's program

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