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User Info	Here is why the market may jump on Paulson proposal; entered at 2007-12-02 11:53:26
Aztrader Posts: 6134 Registered: 2007-09-10 Scottsdale, AZ	Wouldn't you love to be in the position to have your rate increase forgiven while people with good credit get slammed with the new tighter lending standards. Now you can go out and spend for Christmas and keep the party rolling. This rate freeze may look good on the outside, but all it will do is delay foreclosure in most cases. If they put specific requirements on the borrower in order to recieve this freeze such as: Real equity in the home from an original deposit; Interest and principal payments and no interest only loans; No one who did a cash out or who are carrying a HELOC on the home; No one that borrowed over 5 times their income to purchase the home; No Alt A loans without new income verification; No late payments on either their mortgage, credit cars or car payments on their record. The home must be their primary residence from the day they bought it. This will weed out the true dead beats and give support to those that really need it. I am completely against a bailout of any sorts, but if they need to do it, then do it right. 2007-12-02 11:53:26