|
Absolutely, sister Madame X. If anybody needs a bailout it's us. Not only do we pay higher property taxes due to unfair redlining practices but are twice as likely to be solicited by predatory lenders. A couple I know got a loan from a company that went under after a few years in business. Now they're stuck with this astronomical note. I try to tell my friends if a loan sounds to good to be true it usually is. And if possible stay away from adjustable rate mortgages...it's nothing but trouble. I found out the hard way a few years back. Never again will I get an adjustable rate. Hopefully this money will be allocated toward people who really need it but I suspect the funds will be diverted for stupid stuff like more bombs for Iraq.
|