02-19-2009, 12:54 AM
Gutenberg wrote:
• Those people paid more than the houses were worth
• They did not pay more because they are jerks.
• They paid more because of the circumstances.
• The righties believe that everyone who paid too much for their houses should be hung out to dry.
• I believe the righties are wrong.
I hope this is clearer for you.
This is the flimsiest argument I have heard yet. How can you pay more for a house? It is not your money. What do you think appraisal is for? They bought it for the going price. The reason they are upside down is because the market has collapsed not because they paid more
and while we are at it....
How do you stop a foreclosure without giving people a free house or at half the price? What is President Obama suggesting?