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Brown Cafe UPS Forum
Life After Brown
The bailout
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<blockquote data-quote="drewed" data-source="post: 405026" data-attributes="member: 13615"><p>And thats why theyre trying to work out this bailout.</p><p>Thats shouldnt be that much of a worry, because youre right they dont do much good to people right now. The thing that caused all of this is people that were skirting by on their credit getting houses using variable rate mortages, the rates fluxuated to the higher portion of it, and they cant make the payment. So the finance corps are forclosing on all these houses, no income coming in from them, having to payout inurance to protect their investment, no one can qualify to buy them and if they do they have to sell them at a loss because property values falling.</p></blockquote><p></p>
[QUOTE="drewed, post: 405026, member: 13615"] And thats why theyre trying to work out this bailout. Thats shouldnt be that much of a worry, because youre right they dont do much good to people right now. The thing that caused all of this is people that were skirting by on their credit getting houses using variable rate mortages, the rates fluxuated to the higher portion of it, and they cant make the payment. So the finance corps are forclosing on all these houses, no income coming in from them, having to payout inurance to protect their investment, no one can qualify to buy them and if they do they have to sell them at a loss because property values falling. [/QUOTE]
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The bailout
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