Add the Student Loan debacle to this and you have a recipe for national disaster and ultimately a global financial meltdown. Cloward and Piven would be so proud of their little munchkin.
Some DEM in the House is trying to introduce a bill that would allow TOTAL forgiveness of college loans after 10 years ...
Hypothetical: So if you worked at McDonald’s and claimed you could afford a $500,000 house, because you went with a no document loan your mortgage application was then approved, and you have now stopped making mortgage payments, but still live in the same house for free, because your adjustable rate mortgage has adjusted upward.
now this administration is forcing the Bank who made this loan to you to forgive $250 thousand and reduce the interest rate to 5 percent, and you are whining that you have been mistreated and the government should forgive the tax you owe on the $250 thousand loan principal reduction you now have received.
give me and the other poor slobs who bought only as much house as we could afford a break. obviously these kind of folks are those who voted for Obama and want the rest of us to pick up the tab for their foolhardiness.