My question is a simple one . If the mortgage companies can give a buyer a 40-50 year loan. Then , why can't they extend the loans given to all buyers that have lost their jobs due to the economy or by circumstance. The lenders and banks that received our hard earned dollars to save their institutions.Should ,just advise the buyer's they gave the bad loans to that they, the bankers ,have made a mistake by giving them a loan they could never pay back! The bankers should restructure the current loans and give the homeowner a period of 24-36 months interest only loans until they are back on their feet in this crisis. Then the market and the bankers will inherit the trust of our citizens again.
What do you think?
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