I will clearly explain to people that they are enslaving themselves even further because they don’t want to “lose THEIR house”
I try to tell people that when they owe as much or more than THE house is worth, they own absolutely nothing. They will have a tax deductible rent payment, which is really only the difference between the standard deduction and their housing deduction…
I am no more a fan of this crappy loan than an FHA loan, but it will be promoted by the hucksters as the salvation for millions…
Foreclosures are the solution, they are not the problem. The govt will NEVER admit this… HLS
