A friend of mine knows a real estate appraiser who says banks are starting to bail from pending mortgage contracts. Word on the street is there is going to be a law passed which, when someone goes three months without paying the mortgage, the federal government steps in and offers them a lower interest rate.
It's hard to believe even the federal government could be that stupid, but just when you think they can't get any dumber, they start pulling out brain cells with their fingers. In other words, in the current climate, it's plausible.
From the Club for Growth via Carpe Diem.
3 comments:
I've been doing some research, and there's more grants and lower APR's out there now than before. Bailout is for you too!
I sure hope this rumor isn't true...
A friend of mine knows a real estate appraiser who says banks are starting to bail from pending mortgage contracts. Word on the street is there is going to be a law passed which, when someone goes three months without paying the mortgage, the federal government steps in and offers them a lower interest rate.
It's hard to believe even the federal government could be that stupid, but just when you think they can't get any dumber, they start pulling out brain cells with their fingers. In other words, in the current climate, it's plausible.
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