Upcoming Foreclosures

forclosure , subprime , real estate , please read on?

government saying that might be bailout for homeowners who are about to foreclosure. My question is what does this bailout mean? Does it mean that the government will pay in full for the whole house for you lol. Or maybe does it mean you still have to pay the whole house but at lower interest. By the way I am a homeowner but paying my mortgage on time. Dont see why some homeowners who bought more than they can chew gets help. Maybe I should get break in my property tax? opinions please...

Public Comments

1. What this means is we are going to get it without Vaseline. Once again we pay for stupid people screwing up.
2. Hundreds of thousands of people all losing their homes at the same time would be a significant economic dislocation that could possibly trigger world wide collapse of financial markets. To prevent that, The fed is likely to reduce its interest rates to banks, which will improve their liquidity and put them in a stronger position to stand the financial pressure of defaulting homeowners. No one knows if his will work because this is a unique problem.
3. I think if anything, the government could buy out the subprime loans and convert them to 30 year fixed. That way everyone wins. Then make subprime loans illegal, or not federally insured.