Originally posted by: yuppiejr
Right from the snake's mouth:
http://www.npr.org/templates/s...y.php?storyId=12555904
Clinton, Schumer and Dodd are the big 3 - just hit google with "mortgage bail-out news" and/or add any of the last names and you'll find plenty to read...
Well I read some stuff I found on Google. This one is tricky. While I do not feel that it is fair that irresponsible people should simply be bailed out using my tax money, I fear what could happen if the drastic foreclosure rate continues to rise and how that will effect my future even though I do not own a home yet. I would like to own one in about 2 years. I am not experienced enough to understand what will happen if the government does not help. However, I do understand that if they spend that money then it needs to come from somewhere which means it will either come out of my pocket or out of some other fund which I may value more.
In particular, my favorite article that I found was on msnbc:
http://www.msnbc.msn.com/id/18059004/
From the article:
Last year, more than 1.2 million foreclosure filings nationwide were recorded by RealtyTrac, a Web site that compiles default notices, auction sales and bank repossessions.
That's a scary number.