Upside Down Mortgage

Chase Mortgage Help For Homeowners

Question: If a Citizen can't make pay mortgage, will our Gov give the same helping hand given to Bear Stearns?

Chase only paid about $236 million for a multi billion dollar company. Chase got the corporate headquarters for nothing, but it is valued at a billion dollars.

The rest of the Bear Stearns debt, billions, taxpayers will be paying.

Why is the Bush governmet always bailing out corp "risk/moral hazard", when this risk also applies to defaulting homeowners who may have no place else to live?

Answer: Great question!! I will venture to answer it, but mind you it is my opinion and not an authoritative response!!

I believe the Bush Admin. is worried about 2 things. The first being the Bush "legacy" and second, the Bush "legacy".

Nothing this current administration has or hasn't done, benefits the people of the US. Bush and most Republicans believe Corporate USA drives the economy, so they try to help Corporate USA before they help the people.

In the Bear Stearns situation, their collapse would have properly corrected the financial markets. Too much of what these current markets are based on is speculation and creative lending to boost the bottomline. The markets need to correct on their own and self regulate. The free markets are now controlled by the Government. Not good!! Today's market run up is a good example. The speculators are out in full force speculating whether or not the fed will cut the rates more. Is that free market or government control?????

The fed should have come out with a statement indicating they are going to let the markets run their course and encourage lending houses to renegotiate loans close to or in default. A free bail out is not the option for consumers or businesses. It just teaches us how to be irresponsible.

No wonder why the US has debt!!!

DEBTORS REVOLT- CHASE HOME FINANCE

If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!