1Perry
Banned
- Joined
- Jun 26, 2011
- Messages
- 7,624
- Reaction score
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- Male
- Political Leaning
- Libertarian
So you want Freddie to relax its underwriting standards back to the ridiculously low standards that got us into this mess to begin with? You know that sound of flushing you hear? That's taxpayer money going down the drain when mortgagees default. P.S. When we bail out Freddie, we're bailing out taxpayers.
With the alternative being what? Having the homeowner walk away? How is that better? I noted it's a choice of picking between two evils.
We are NOT talking about giving people completely new loans at with unjustifiable lending practices. This is about refinancing.
So, IYO which is better. Refinance at the current market rate or walk away?