The feds are supposedly thinking of a bailout plan for us stupid homeowners who bought near the peak…like our family did.
Basically, it looks like a payment moratorium with the government kicking cash over to the banks to subsidize us not paying anything for three years.
What would this do? Let us spend like loons and lose our houses five years from now instead of today.
It’s (*&%^& brilliant!
I always wanted a Benz CLK in my driveway!
And all we’ll have to do is start being deadbeats. Having a credit score in the 700s hasn’t done us a bit of good lately…so who needs it?
Slap me down into the 500s and a free house for three years? Sign me up for that!
Wait, won’t this cost a gajillion dollars, merely push a major problem down the road and soak the rich even more?
SO WHAT! THE PEOPLE HAVE SPOKEN, BABY! Now THIS is some change I can believe in.
(Hat tip: Nealy)