Mortgage Crisis: 20% of Borrows Owe More Than House Value
March 4th, 2009
Can someone please explain to me why this matters? These people bought their homes at X, and now their homes are worth less than X. If they are allowed to refinance at the current value, their equity will shoot up when the marketing comes back to life.
100% (fake stat) of people that finance cars owe more than their cars value. The only difference is the car value will not go up, but the house value will. Hell, I owe more on my car than it’s worth. Where is my government bailout? I want my cheese Obama. I’ll take cash, check, paypal.