skanderbegdj

The Biden-Palin Panderfest

It is a wonder that Biden last night again reiterated that something should be done to save peoples homes who are under foreclosure. Biden Obama solution seems to suggest that the principle owed one those mortgages should be reworked so that those people can get to keep their home and the mortgage agreement should be changed to assure that. Are we now going to tell lenders that the legal contracts will me null and void and they should shoulder and pay for the misfortune of bad judgment of these buyers/"investors"? That would be like telling the lending institutes, banks, groups or privet lenders -- traditional or non-traditional: lend at your own risk because when the borrower cannot pay his/her mortgage we are just going to make you cut your rates and even your principle owed you, to make sure that the borrower cannot loose. That however maybe a good thing because in that way we could make this nation again a renter nation benefiting a small number of the population that are landlords. Some of these changes proposed by Obama/Biden, that is if they can pull it off, seem counter intuitive.