The Senate GOPs sent a message to blue-collar workers when they killed the Auto Industry Loan: "We aren't the party of the working.
I'm not a fan of bailouts, but we sent over $700 billion to the financial services industry without any salary strings attached. Even middle management guys get bonuses larger than probably State Senators.
Why didn't Republicans go after the dealership system and the corporate people?
As well as AIG is offering "retention payments" from $92,500 to $4 million dollars to employees for "not quitting." I know it's standard industry practice when a company is on the market, but it's still a bonus to well paid people financed by taxpayers.
But why the Goverment do not helping Homeowners? Seems that someone has diverted the main problem to bail out Car Makers and Banks CEO's, Managements. There have been many mortgage businesses popping up in the last few years, its no wonder that a boiling point has been hit. The number of adjustable home mortgages that were sold in the last few years in the United States are now set to readjust, with a total of 370 billion’s worth of loans resetting in 2008.
Seeing Home prices drop and inventory increases from foreclosures. There are new factors in the market now that will affect your ability to refinance, but a lot of these loans were switched to fixed rate.
If you happen to live in California or Florida, you will by now understand that it is a buyer’s market of immense proportions. So many people defaulted on their house loans that the inventory of homes may take many months to clear.Causing prices to drop drastically, if you purchased during high tide, there is a possiblity that your home is worth much less then what you purchased it for. Negative equity will also make refinancing harder to get. Not all housing markets are doing badly.
Speaking with your lender is what you probably need to do to compromise your mortgage terms. In order for you to make your mortgage payment, it may be necessary to cut back on some unnecessary or necessary expenses to retained your home but what about CEO, Management's from Banks, Car Makers, Insurance companies? Do they cutting back on their big salaries, bonuses?.
There isn't any little help for you to recover in any time soon because mortgage Companies, Lenders, Banks do not want to help you to retain your home; They are making more money out your home in foreclosure. Can someone help the real people rather than systematic and unproductive Companies? If homeowners are accountable and liable for losing their homes. Why the Goverment din't find anybody accountable and responsible for their missmanagement on this crisis? Why the Federal Goverment Bail out Insurance companies, Banks, Car Makers without any restructuration program? Just remember is your money fight for it.
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