Administration’s Mortgage Fix Is Criticized

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I tried and still IM stuck in high mortgage payment.

The best way to fix home mortgages would be the fedrial goverment get rid of all scam high intress loan comp.force banks to drop intress rates to 5% across the board for home mortgages .this would be a automatic lower payment for all home oweners that our stuck in high payments.

bob of @ Sep 29, 2008 09:39:29 AM

Mr. SubPrime here to tell you......

my mortgagor, Wells Fargo, has done nothing but extend repayment plans and offer loan mods that were/are unaffordable. They refuse to write-down anything. My home was overappraised (huge) by their appraiser, and I'm upside-down $30,000+. I didn't buy this house to stiff someone, I bought it to raise my family in. We had a budget when we purchased, but we (like many others) got bushwhacked at the closing table by the lender. They knew exactly what they were doing . Subprime borrowers are not bums, deadbeats, and rats. Many (like myself) have become strapped with food, energy, and other inflation-affected costs. Mortgage payments increasing by hundreds of dollars, combined with the aforementioned expenses, pushes borrowers to the financial breaking point. We were ill-advised by the lenders' representative, much like a salesman offers less-than-candid guidance in financing a car. They literally sold mortgages like cars. FBI investigation may or may not result in indictments, but this bubble is just another in a series engineered to steal the wealth of America's middle class; as well as adding to the burgeoning crowd of "subprime" customers.

R. Peters of WI @ Apr 10, 2008 20:39:51 PM

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The Home Front

The Home Front

Associate Editor Luke Mullins tracks the treacherous housing market and explains how to unload a five-bedroom McMansion or even find that dream home.

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