Can someone explain why this isn't being considered?
If a lot of the people who are in trouble on their mortgages got there because of adjustable-rate mortgages, and
if the banks and other lenders are in trouble because too many people can't pay those mortgages
why can't the banks/lenders just revert everyone's mortgage to the rate it was when they could pay it?
Obviously this doesn't help people who can no longer pay because they've lost their jobs or whatnot, but that is not the vast majority of people getting foreclosed on, as far as I can tell.
This seems like such a simple solution, there must be something wrong with it. Anyone care to explain?
Bittersweet - Eyal and I always knew that it would be difficult building a family from two different countries. It is just now, however, that we have to really put that ...
5 years ago