Thu 5 Mar 2009
Angry about those loser homeowners getting a bail-out?
Posted by Marlow Harris under Real Estate
[2] Comments
CNBC’s Rick Santelli is angry about the homeowner bailout for that 2nd bath:
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Here is a solution for the homeowners that I have talked about with a economic expert client of mine:
If the government spent just a fraction of the bailout money to help homeowners refinance loans to affordable rates it would help people get people back on track and make their payments — the bank would win because people will actually be repaying their loans and wouldn’t have to seek bailout money for poor lending practices.
Everybody knows that if the banks would not have been so liberal in lending money with no doc and other high risk loans, we wouldn’t be in this situation. The funny thing is is that money is given to banks because of their idiotic decisions and now don’t want to part with money given to them for the purpose of lending.