Friday, December 07, 2007


Bush wants to freeze the mortgage rates for “troubled borrowers.” These are the people who borrowed more money than they could actually afford to with an adjustable rate mortgage. As many of the introductory rates are starting to expire, many of their interest rates are going to go up substantially. I disapprove of this rate freeze.

The Republican party used to be the party of free enterprise and individual responsibility. If people were dumb enough to borrow more money than they could afford and a future interest rate that they couldn’t afford it really sucks to be them. When signing all the paperwork for a loan all of that information is written there. If they couldn’t be bothered to read it all or understand it all, they really shouldn’t have signed any of it. Now Nanny Government is there to save people from their own stupidity. These people need to get out of their current mortgages by selling their unaffordable homes and move into a place they can actually afford.

1 comment:

Polka Dotted Pickles said...

I agree. So much for the former ideals of the Republican party I suppose. :)