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Date Posted: 15:56:59 03/16/08 Sun
Author: Deep Diction
Subject: Re: Help me out here
In reply to: AssieKay 's message, "Help me out here" on 14:20:26 03/16/08 Sun

It's an effort to stop the country from falling into a deep recession. Foreclosures don't just hurt the people losing their homes... they hurt people trying to sell their homes. And they also hurt people who have good credit who took out adjustable-rate loans and planned to refinance before the rate started adjusting. The the subprime credit crunch has raised the credit scores necessary to qualify for loans, so a lot of people are finding that the rules have changed since they took out their initial mortgage, and wind up trapped through no fault of their own (other than that they took a risk when taking out the adjustable loan, but the only risk they really planned on was that of the interest rate rising).

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