Will the mortgage bailout help you?
By emitchell
Tuesday, September 9th, 2008 at 8:33 am in Uncategorized.
The government’s bailout of Fannie Mae and Freddie Mac is already lowering interest rates for some home loans, according to a Contra Costa Times story. That could be good news for people who are thinking of refinancing an adjustable-rate mortgage set to go up soon into a fixed-rate 30-year mortgage. Trouble is the bailout won’t help people in foreclosure or who are behind on their mortgage payments or those who have jumbo loans (which are not backed by Fannie Mae and Freddie Mac). Do you expect the bailout to help you?
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October 17th, 2008 at 9:43 pm
ok theres 700 billon to the banks, so what about main street, weve lost the house, car is gone, credit wreck
an whats left 0. they havnt even mention the millons of us who have been screwed. can’t buy something if we wanted to. bankrutcy only option, but the big banks made it harder to get out of a bad situation,and they get easy money. if we all had someone to bail us out. we would not be in this hole?