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News 7.5 million homeowners 'underwater'

7.5 million homeowners 'underwater'

Submitted by SixtySeven | 1 year ago

CNN Money - NEW YORK (CNNMoney.com) -- At least 7.5 million Americans owe more on their mortgages than their homes are currently worth, according to a real estate research firm's report released Friday.

Tags: economy, foreclosure

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Bill the Cat (Libertarian) - 1 year ago

The proper fix would have been to force a lock on everybody's mortage at the rate they took the loan.

The loan rate was good enough for investors at that time so, it should still be!

That would have eliminated tons of foreclosures and the BOMB (Bush, Obama, McCain Bailout).

The problem is that legislators don't take the time to stop and think. There were a whole host of other options but nobody took the time. Now, we have a $1.1 Trillion bailout package + all the pork and tax credits that will frankly, never be paid off.

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Of course I believe in Millions of Stupid Voters.
That's how we got George Bush!
Now, those voters are going to give us another Obamanation!!!

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Luke Duke (Republican) - 1 year ago

Evidently, some of them will be bailed out by the Feds. Let's see: you take on more mortgage than you can handle, pull money out for a Home Equity loan to buy a Land Cruiser/Trips/Counter Tops, and then cry in your soup for help. Let them DROWN. Or else, we are penalizing responsible people while rewarding ignorance.

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