[Grovenet] Another preemptive strike . . . .

[Steven]

This bail out would hang the  folks with the bad loans into their bad
purchases for longer. The bad loans were not even paying all the interest.
It accumulated.
Think about it. Get into a new home with no money down. Pay minimal
payments. What has this person lost in giving the house back to the bank? If
they
had rented, it would have been a larger payment. "Bailing out" this person
is saving the lender. The lender who offered, or purchased the bad
mortgage in the first place.
A bail out of this situation would be to allow folks to get out of these
obligations without a bankruptcy or foreclosure against them. But only if
this
purchase was your primary home. I really don't want to see the flippers get
out of this stupidity.
  -----Original Message-----