Dads at Home

Columns

  • Chris Erskine
    “Man of the House” in the Los Angeles Times is a dad’s answer to life’s troubling questions in suburban Los Angeles.
  • Michelle Singletary
    “The Color of Money” is a Washington Post column on personal finance that any dad will find useful.
  • Jay Mathews
    “Class Struggle” is a Washington Post column on what works and doesn’t work in the world of education.
  • Armin Brott
    “Ask Armin” in BrandNewDad provides a Q&A format for any questions a father may have.
  • Dr. Greg Ramey
    “Family Wise” offers a clinician’s advice on parenting issues.
  • Teacher Says
    Washington Post columnist Evelyn Vuko provides practical advice for parents and children from a teacher’s perspective.
  • Dr. Ruth Peters
    MSNBC columnist Dr. Ruth Peters offers timely, topical parenting tips.
Powered by JacketFlap.com

« Good News, Bad News, Obesity Studies Find | Main | Recalls Almost 1 Million Products Are Cited During Two-Day Frenzy »

Thursday, December 06, 2007

Comments

That's a good question, and one that has to be balanced with "how do you protect homeowners with a legitimate beef?" and "how do we do it without wrecking the little house of cards our entire speculative financial system is based upon?"

The only reason to freeze rates is that banks can find a way to shore up their assets. Period. All it does for homeowners is delay the inevitable. And the declining housing market means they're just losing money.

The big problem on the consumer side is all those people who didn't realize they couldn't just walk in and refinance their mortgage. They didn't read the fine print.

Hell, The Mrs and I are pretty astute, yet had to call our lender to make sure our 7-23 was all good. It is (they're local and very, very trustworthy).

The broker side has YSPs. People think brokers are working on their behalf and never know they're being screwed.

And then, of course, Wall Street, which has always needed rich people to work like it should. Well, they found a way to make billions off of poor people, and too many people decided they wanted a piece, failing to realize there wasn't enough for everyone.

Or, like you posted, "greed."

Now, I absolve a lot of homeowners who just got rooked by some sleaze, or like most Americans, simply lack the financial knowledge necessary to make such a big purchase. FinEd should be MANDATORY in all high schools and colleges, but not sure the powers that be would want that. /snark

Oh, and the ones who flipped houses -- which will be easy to separate due to public records -- can rot.

Sorry for the thesis ... :-)

All good points Mark. I've harped in the past that one of the reasons so many people do get duped is they get an inadequate financial education in school.

There are actually a number of different plans people can qualify for besides this rate freeze. HopeNow is only one of them, there is a FHASecure, Mortgage Relief Fund and other. You can easily figure out what
subprime relief program
a home owner can qualify for.

The comments to this entry are closed.

Become a Fan

Family & Friends

  • Book Buds
    My wife’s newest site in which she reviews children’s literature. A must for parents trying to teach their kids to read.
  • Inland Empress
    My sexy wife and her funny blog about our suburban life. I love her anyway.
  • LAPD Wife
    LAPD wife is back after a leave of absence. Learn what it's like for a mom to be married to a police officer.
  • Photon Trader
    My brother provides software and other services to online commodity traders at ThePhotonGroup and runs his own school, though it's still in development.

Stimulation

  • Citizen of the Month
    If you are in desperate need of a laugh, read Neil's satirical look at life in Los Angeles.
  • Yad Vashem
    This site offers a database of 3 million Jews that perished during the Holocaust. Eventually the site hopes to list all six million victims and their related biographical information.
  • 2blowhards.com
    These guys are intellectuals. I don’t always know what they’re talking about, but they sure do.
  • Veritas et Venustas
    John Massengale, a key player in the world of New Urbanism, writes about modern architecture and some of its more horrific incarnations.
Powered by JacketFlap.com
Blog powered by Typepad

Disclaimer

  • The opinions expressed on DadTalk are the author(s) and the author(s) alone. We make no warranties on the accuracy of the information. Any personal or financial decisions you make based on the information presented on this website are YOUR SOLE RESPONSIBILITY ONLY.