I don't have a degree in economics, but I understand a few things. The rules of free market capitalism would dictate that there are more than enough investors with the pocketbooks to support the formation of new mortgage/loan organizations. The "new" mortgage companies would buy up the "good" mortgages that are being paid. Individuals with loans which are currently in default would get a little "tough love" lesson in finance and responsibility for actions by being removed from their home, as anyone should be that isn't making their payments.
I would stop making my mortgage payments today if I knew the government would pay my mortgage for me. It's really bad business to take money from Americans who are being responsible with it, and transfer it to Americans who aren't. Anyone with an ounce of common sense knows that is a bad investment; however, that is exactly what the government has done by bailing deadbeats out with our tax money.
No comments:
Post a Comment