Injections and Rate Cuts ARE the Bailout
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If you were holding your breath and wondering if the government was going to help you make your house payment with a bailout you might pass out from a lack of oxygen.
For those wondering when and if a mortgage bailout will come, here is some surprising and startling news. The FED liquidity injections are the bailout. The next best thing that they can do is a rate cut, but they have a classic pattern of coming late with the solution.
Far be it from me to tell Ben Bernake how to do his job, because international finance is bigger than just the local housing market. How about the thousands upon thousands of people whose mortgage payments are on the upswing?
For those wondering when and if a mortgage bailout will come, here is some surprising and startling news. The FED liquidity injections are the bailout. The next best thing that they can do is a rate cut, but they have a classic pattern of coming late with the solution.
Far be it from me to tell Ben Bernake how to do his job, because international finance is bigger than just the local housing market. How about the thousands upon thousands of people whose mortgage payments are on the upswing?
I agree.
Additionally, our country has a fiscal literacy problem. Thousands of people's mortgage payments are on the upswing #1 - because idiot mortgage "professionals" didn't explain loan products correctly and #2 - the people signing loan documents didn't read the loan documents, or read them but didn't pay attention to what a fixed-period ARM is, or that 1% wasn't really their fixed interest rate.
Galel Fajardo
Posted by
Galel Fajardo |
5:33 PM
The fiscal literacy problem comes from not teaching the basics of finance and debt in high school. The problem is exacerbated by credit card companies pushing cards on broke college students and those who can't get out of debt.
Posted by
Rory |
6:29 PM