Posted by Sunny01 on 2/13/08 2:05pm
Msg #235166

Lifeline Question

Does anyone have any thoughts/ opinions on how this may affect us? I know it's a short term fix to help out some, but I do wonder if it will bolster any time for refi's?

Reply by Mickey_Fan on 2/13/08 3:29pm
Msg #235186

My $0.02 worth is that it's a bunch of ****. Anyone 90 days behind in their mortgage is not going to be helped by an additional 30 days. What they need is to restructure their loan somehow. Now THAT may help us, and I hope it will, but the 30 days isn't going to help us.

The lenders need to be able to restructure the loans. Once they can put their profits aside and work for the good of the economy as a whole, it will be good.

Barbara

Reply by WDMD on 2/13/08 3:50pm
Msg #235190

"The lenders need to be able to restructure the loans. Once they can put their profits aside and work for the good of the economy as a whole, it will be good."

I'm sure their stockholders would be glad to know that instead of investing in a for profit enterprise, they would now be investing in a non-profit organization.

Reply by MistarellaFL on 2/14/08 12:50pm
Msg #235284

I think the whole purpose of Lifeline is to restructure/modify the loan, isn't it?
That's how I have interpreted what I have read.