Refinancing your mortgage made easy!

Hello there! If you are new here, you might want to subscribe to the RSS feed for updates on this topic.

It used to be that when you wanted to take out a mortgage, you would fill out the application, the bank would then determine if you were able to pay back the loan. If you were, you signed your name in the act of agreeing to the terms of the loan and then in 15 to 30 years you owned your home.

Fast forward to to today. The United States government sets up some really bad policies, so that almost anyone can get a mortgage; even if you can’t repay. The banks set up ridiculous terms and because of irresponsible lending defaults occur. A lot of defaults. People are crying about how bad the lenders are, even though the policies put in place forced/allowed them to make the bad loan. The economy gets tough people lose their jobs, can’t make their mortgage payment, lose their home, banks fail, and more people lose their job. The government decides to help correct the debt problems by borrowing more money, and give $75 billion to the very people who were irresponsible the first time down the mortgage trail.

Can someone tell me how we are going to guarantee that my tax money that is now being used to bail out people that made some really bad decisions won’t simply be wasted because the family that got money from the mortgage bailout, never learned to live on a budget and are still spending more than they make?