bail out.

[brokeNconfused]

i see they are trying to allow bankrupsy in 13 to adjust mortgages. Why dont they just require all banks in need of bail out to lock remaining Arm loans. And suggest it with the rest. then in 13 if someone were to file they can just lock the original rates the person was able to pay. It seems so simple to me if the arms are what caused this mess.

[Flamingo]

It's just not ARMS, it all the other fancy predatory mortgages that were in place such as interest only payments, pick a payment, etc. So your suggestion is fine as to a regular ARM as to the interest but other things would have to be done as to other predatory practices on those mortgages. It's a mess. Plus there will be such a stink as to adjusting mortgages if that should ever go through in bankruptcy from those that have already filed or those that are not in that position and will not file and pay their mortgages on time. Most people do not feel that any sort of free ride should be extended to those that accepted these predatory mortgages and if they are cut a break, everyone should be cut a break in some way. This entire situation is not pretty and affects everyone badly in some way.

[AngelinaCatHub]

It's just not ARMS, it all the other fancy predatory mortgages that were in place such as interest only payments, pick a payment, etc. So your suggestion is fine as to a regular ARM as to the interest but other things would have to be done as to other predatory practices on those mortgages. It's a mess. Plus there will be such a stink as to adjusting mortgages if that should ever go through in bankruptcy from those that have already filed or those that are not in that position and will not file and pay their mortgages on time. Most people do not feel that any sort of free ride should be extended to those that accepted these predatory mortgages and if they are cut a break, everyone should be cut a break in some way. This entire situation is not pretty and affects everyone badly in some way.