Gadling

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The Mortgage Fix That Can Save the Economy {AOL Real Estate}

Aug 29th 2011 11:14AM When are they going to reduce my car payment because the value dropped when I left the car lot. Better yet, why should I have to pay those credit cards when I can't remember what I bought with them. Once we start making deals about who pays and when the process will never end. MAYBE if there was a way to determine who really tried to make house payments there could be a fair process but you know all the people who lied and cheated and knew they couldn't really afford the house they bought will get saved too. In fact the guy I know who was so greedy he bought 5 houses and lost them all is buying a new place this week, isn't bankruptcy great!

The Mortgage Fix That Can Save the Economy {AOL Real Estate}

Aug 29th 2011 11:10AM We have lived in our house for 17 years. We never borrowed against our home and we have made all our payments on time. Now I only owe about 4 years of payments and the house is worth more than I owe on it. We have friends who bought a house for about a quarter the money at the same time. They owe at least three times the worth of the property because they constantly took the equity out of their home. The last time they paid over 16 thousand just for the refinance, then complained when they read the paperwork a couple weeks after closing. My step kids bought houses when they couldn't even get credit cards. People in their twenties buying houses bigger and nicer than ours and we couldn't understand how the banks could possibly make those loans. NOW all those irresponsible people want help and it looks like they want it from people like us.