Wednesday, June 25, 2008

Should Government Bail Out Foreclosures?

The senate is pretty close to passing a $300 billion bailout for homeowners in foreclosure. In essence, this bill would use FHA, HUD money to back up "bad" loans that will result in foreclosure. In essence, every American Tax Payer gets to help Counrywide, and other lenders who loaned to risky borrowers cut their losses.

read more | digg story

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