Should banks permanently reduce principal owed on loans in areas
where home values have declined, in addition to term extensions and
interest-rate reductions, to help prevent more foreclosures?
THIS WEEK’S WEB POLL:
Should banks permanently reduce principal owed on loans in areas where home values have declined, in addition to term extensions and interest-rate reductions, to help prevent more foreclosures?
Yes: 5 No: 7
â– Yes … and while they’re at it, they can deposit $1 million into my bank account, clean my bathrooms and take the garbage out on Thursdays!
■Although I agree something has to be done, I am not sure bailing people out at the cost of penalizing fiscally responsible individuals is fair. Perhaps some type of tax break …
â– NO on principal reduction, YES on term extensions and interest rate reductions.
â– Yes. They should do whatever they can to keep people in their homes.
â– Yes! A lot of attention is being paid to those who are three months late. How about the people who do pay on time? For some, it is a huge struggle.
Vote in
