Comments on: Foreclosure Numbers Continue To Soar http://www.fhaloanpros.com/2008/03/foreclosure-numbers-continue-to-soar/ The Unofficial Guide to FHA Loans & Mortgages Sat, 17 May 2008 10:19:48 +0000 http://wordpress.org/?v=2.0.5 by: foreclosurefish http://www.fhaloanpros.com/2008/03/foreclosure-numbers-continue-to-soar/#comment-4028 Fri, 14 Mar 2008 15:53:02 +0000 http://www.fhaloanpros.com/2008/03/foreclosure-numbers-continue-to-soar/#comment-4028 Good post. The foreclosures keep getting worse, these bad mortgages keep going into default, and what does the government propose as a solution? Nationalizing the banks by having the Federal Reserve buy up all this bad debt and sticking it with the American people -- the same ones who have been living so far beyond their means that they can't afford to pay their own mortgages, let alone take on the financial burden of the banks. Converting to an FHA loan would probably be a much better solution to help out the homeowners, rather than just giving banks more money. At least that is a slightly better use of tax money, and may help homeowners keep their properties in some cases. Good post. The foreclosures keep getting worse, these bad mortgages keep going into default, and what does the government propose as a solution? Nationalizing the banks by having the Federal Reserve buy up all this bad debt and sticking it with the American people — the same ones who have been living so far beyond their means that they can’t afford to pay their own mortgages, let alone take on the financial burden of the banks.

Converting to an FHA loan would probably be a much better solution to help out the homeowners, rather than just giving banks more money. At least that is a slightly better use of tax money, and may help homeowners keep their properties in some cases.

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