Deal Sealed: Not Voting McCain/Palin 08

[AgentDrazenPetrovic]

http://apnews.myway.com/article/20081008/D93M1JEG1.html

Republican presidential candidate John McCain is proposing a $300 billion program for the federal government to buy up bad home mortgages and allow homeowners to keep their houses.

McCain said: "Until we stabilize home values in America, we're never going to start turning around and creating jobs and fixing our economy and we've got to get some trust and confidence back to America."

In an unusual step, McCain announced the plan during Tuesday's debate. He said that as president he would direct the federal government to purchase mortgages directly from homeowners and mortgage providers. The loans would be replaced with fixed-rate mortgages, ostensibly at a loss to the government.

 

[GMJ]

Yeah this caught me by surprise, too. I'd prefer not to use my taxes to buy homes from people who made really dumb financial decisions.

 

[Dumpy]

Yeah this caught me by surprise, too. I'd prefer not to use my taxes to buy homes from people who made really dumb financial decisions.

it depends on what the terms will be. The government could simply replace the current mortgage with, say, a 50-year fixed-rate loan at the market rate, which would lower the monthly payments without lowering the value of the asset.

 

[MARIS61]

This would not have any positive effect in stabilizing home prices.

He just doesn't get it.

 

[maxiep]

I won't be on the forum tomorrow. I'm going to sell my current house and purchase the biggest, most expensive home I can find in the morning. I figure if being responsible and paying my mortgage on time every month has gotten me here, then I need to break the rules and get the government to help me stay in my new mansion.

 

[AgentDrazenPetrovic]

I won't be on the forum tomorrow. I'm going to sell my current house and purchase the biggest, most expensive home I can find in the morning. I figure if being responsible and paying my mortgage on time every month has gotten me here, then I need to break the rules and get the government to help me stay in my new mansion.

you forgot you want to get a negative amortization loan with a teaser rate! greatest no-brainer in the history of man-kind!

 

[Nikolokolus]

http://apnews.myway.com/article/20081008/D93M1JEG1.html

I feel like I just woke up in reverso world where McCain is a socialist and Obama is the cost cutting fiscal conservative.

what the fuck is going on in this misbegotten country right now?