# Individual mortgage bailouts on the way?
**URL:** https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678
**Category:** NYSpeed Off Topic
**Created:** [March 26, 2008, 12:35pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678 "2008-03-26T12:35:00Z")
**Posts on this page:** 20
**Page:** 1
### Author:  [@JayS](https://forums.speedlife.net/u/JayS)
#### Post date: [March 26, 2008, 12:35pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/1 "2008-03-26T12:35:00Z")
[http://money.cnn.com/2008/03/26/news/economy/bailout/index.htm?postversion=2008032614](http://money.cnn.com/2008/03/26/news/economy/bailout/index.htm?postversion=2008032614)
Discuss
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### Author:  [@theblue](https://forums.speedlife.net/u/theblue)
#### Post date: [March 26, 2008, 12:42pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/2 "2008-03-26T12:42:30Z")
can we agree that it’s both the consumer’s fault and the bank’s fault for the sake of this thread.
with that said it’s a fun one… but I see the consumer’s point. Why only bail out a big company that was stupid?
how would that be fair?
I don’t want handouts to the consumers, but if we can stop some from losing their homes buy lowering and fixing their rates then it might benefit the economy overall and help everybody.
I don’t think anybody is saying make payments on the homes for the idiots.
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### Author:  [@JoesTypeS](https://forums.speedlife.net/u/JoesTypeS)
#### Post date: [March 26, 2008, 12:45pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/3 "2008-03-26T12:45:57Z")
it’s in everyone’s best interest (except for investors who plan to capitalize on the huge foreclosure market) to try to allow people to keep their homes. In a lot of cases it’d be as simple as locking someone into a 6.5% or 7% 30yr rate.
I think there should be limits of course, I mean if I bought a $800K house w/ an IO then I fucking deserve the punishment.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [March 26, 2008, 12:46pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/4 "2008-03-26T12:46:34Z")
YARGH BLARGH!!! I BOUGHT ME TOO MANY PLASMA TV’S AND CAN’T PAY ME BILLS YARRRGH!!! Yes i am hatin.
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### Author:  [@Nikuk](https://forums.speedlife.net/u/Nikuk)
#### Post date: [March 26, 2008, 12:47pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/5 "2008-03-26T12:47:40Z")
:editorial:
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### Author:  [@Joe](https://forums.speedlife.net/u/Joe)
#### Post date: [March 26, 2008, 12:48pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/6 "2008-03-26T12:48:11Z")
> [@cougarspeed](#):
>
> YARGH BLARGH!!! I BOUGHT ME TOO MANY PLASMA TV’S AND CAN’T PAY ME BILLS YARRRGH!!! Yes i am hatin.
pirates don’t finance, they pay with a treasure chest
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### Author:  [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)
#### Post date: [March 26, 2008, 12:50pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/7 "2008-03-26T12:50:21Z")
> [@JoesTypeS](#):
>
> …
> I think there should be limits of course, I mean if I bought a $800K house w/ an IO then I fucking deserve the punishment.
The limits are going to be the ugly part of this mess.
I just hope everyone has learned their lesson on this one but, history does repeat itself.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [March 26, 2008, 12:57pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/8 "2008-03-26T12:57:39Z")
> [@Joe](#):
>
> pirates don’t finance, they pay with a treasure chest
Yea im not sure where the pirate came from, man that pirate guy is one crazy SOB. OT-So you about ready to do some partying this summer?
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### Author:  [@Nikuk](https://forums.speedlife.net/u/Nikuk)
#### Post date: [March 26, 2008, 12:59pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/9 "2008-03-26T12:59:09Z")
> [@AWDrifter](#):
>
> The limits are going to be the ugly part of this mess.
Yeeeeeap.
> [@AWDrifter](#):
>
> I just hope everyone has learned their lesson on this one but, history does repeat itself.
IT’ll take a generation at the most…
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### Author:  [@Nikuk](https://forums.speedlife.net/u/Nikuk)
#### Post date: [March 26, 2008, 1:03pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/10 "2008-03-26T13:03:53Z")
I’ll tell you what Jay: force refi every early stage default account to a fixed 30 year at market average rates.
For late stagers, assess FMV of the collateral, obsolve them of the balance beyond 90% ltv, and throw em into a fixed 30 year @ market rates.
Anyone current gets a modification conversion to 30yr fixed with risk based pricing.
Let the companies eat the costs & losses. Let the market lick its wounds and get their balls out of bernankes purse.
:roll:
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### Author:  [@Fry](https://forums.speedlife.net/u/Fry)
#### Post date: [March 26, 2008, 1:10pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/11 "2008-03-26T13:10:03Z")
So if I just stop paying my mortgage does that mean I’ll get a get-out-of-jail-free card?
So if we let them face the consequences of their actions we have a large chunk of the country homeless, which does no good for my 401k. If we bail them out then I am effectively paying so that Joe Blow can live beyond his means.
Fuck this. I’m moving to Norway. Michael Moore says it’s Utopia.
:uhh:
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### Author:  [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)
#### Post date: [March 26, 2008, 1:13pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/12 "2008-03-26T13:13:35Z")
> [@Fry](#):
>
> So if I just stop paying my mortgage does that mean I’ll get a get-out-of-jail-free card?
>
> So if we let them face the consequences of their actions we have a large chunk of the country homeless, which does no good for my 401k. If we bail them out then I am effectively paying so that Joe Blow can live beyond his means.
>
> Fuck this. I’m moving to Norway. Michael Moore says it’s Utopia.
>
> :uhh:
I tried that joke in another thread and got FLAMED.
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### Author:  [@JayS](https://forums.speedlife.net/u/JayS)
#### Post date: [March 26, 2008, 1:15pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/13 "2008-03-26T13:15:49Z")
BTW, I didn’t say I was 100% against this. Morally, it pisses me off to no end that we’re going to bail out a bunch of retards who bought more than they can afford, and reward them by letting them keep a great house they shouldn’t even own.
But I understand that simply kicking them all out is going to be too great a cost to the economy. They just better be very specific about the details, and not like Hillary anywhere near it because she’ll just try to buy her way into the white house by giving poor people free mansions for votes.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [March 26, 2008, 1:16pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/14 "2008-03-26T13:16:04Z")
> [@Fry](#):
>
> So if I just stop paying my mortgage does that mean I’ll get a get-out-of-jail-free card?
>
> So if we let them face the consequences of their actions we have a large chunk of the country homeless, which does no good for my 401k. If we bail them out then I am effectively paying so that Joe Blow can live beyond his means.
>
> Fuck this. I’m moving to Norway. Michael Moore says it’s Utopia.
>
> :uhh:
Im with you on this one but can you call over there and see if they have tin foil hats in assorted colors first. This “tin” color just isn’t working for me im thinking pink.
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### Author:  [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)
#### Post date: [March 26, 2008, 1:17pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/15 "2008-03-26T13:17:04Z")
Homeowners get sympathy(even if it is an invest property) the way farmers do so you know they will get bailed out.
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### Author:  [@Fry](https://forums.speedlife.net/u/Fry)
#### Post date: [March 26, 2008, 1:18pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/16 "2008-03-26T13:18:23Z")
> [@AWDrifter](#):
>
> I tried that joke in another thread and got FLAMED.
:lol: Man you get flamed for everything lately.
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### Author:  [@Fry](https://forums.speedlife.net/u/Fry)
#### Post date: [March 26, 2008, 1:19pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/17 "2008-03-26T13:19:29Z")
> [@cougarspeed](#):
>
> Im with you on this one but can you call over there and see if they have tin foil hats in assorted colors first. This “tin” color just isn’t working for me im thinking pink.
They’re scandanavian. I’m sure they have some sort designer pastel foil hats with feathers passed out at immigration.
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### Author:  [@Joe](https://forums.speedlife.net/u/Joe)
#### Post date: [March 26, 2008, 1:19pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/18 "2008-03-26T13:19:53Z")
> [@cougarspeed](#):
>
> Yea im not sure where the pirate came from, man that pirate guy is one crazy SOB. OT-So you about ready to do some partying this summer?
Indeed I am.
oh, and I should have bought another house.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [March 26, 2008, 1:27pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/19 "2008-03-26T13:27:31Z")
> [@Fry](#):
>
> They’re scandanavian. I’m sure they have some sort designer pastel foil hats with feathers passed out at immigration.
Perfect i really like pastel colors.
> [@Joe](#):
>
> Indeed I am.
>
> oh, and I should have bought another house.
I will be home the entire month of July it looks like.
So on this subject when do you guys think interest rates are going to come back up? I am in that first home program where you deposit money into an account and it gets matched and it will be 10 months before i can buy and get the money. But if interest rates start coming up i will have to ditch it i suppose.
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### Author:  [@Nikuk](https://forums.speedlife.net/u/Nikuk)
#### Post date: [March 26, 2008, 1:58pm UTC](https://forums.speedlife.net/t/individual-mortgage-bailouts-on-the-way/45678/20 "2008-03-26T13:58:59Z")
really? july will be a fun month then. 🍺 fo sho
Can’t really call rates 10 months out… the entire process has been willy nilly as of late.
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