“They demanded, among other things, that if a borrower can’t afford higher payments when a low introductory rate ends, that low rate should be extended to the full term of the mortgage.”
… there you have it.. problem solved, just keep the FBs interest rate at the 1% intro rate, and everything will be fine.
basically what tgey are saying is that they want a Govt subsidization of the difference between the teaser rate and the risk adjusted full rate…I.E they want the savers to pay their mortgage.
“basically what tgey are saying is that they want a Govt subsidization of the difference between the teaser rate and the risk adjusted full rate…I.E they want the savers to pay their mortgage.”
This isn’t necesarilly true, is it? It could be that whoever holds the loan now would be doing the subsidizing.
These ACORN people have no respect for legal contracts. Since it is fine with them to cancel a legally binding contract, I say we should go back and cancel the Bill of Rights contract with the people, namely the 1st Amendment. No more right to free speech, no more right to peaceably assemble.
How does that sound ACORN? Do you really want to go down that road?
Amendment I
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.
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