Posted on: 10th Jun, 2009 06:26 pm
I am not late on payments and I keep getting told the program is coming, now they say the end if June.
Why would they reduce principal balances? Especially when you are able to make your payments.
When someone decides to purchase a home, it is a risk. You assume the risk if the value declines and you benefit from the proceeds when the value increases and you sell. Why should the bank eat the difference between the home value and the loan balance? That is YOUR investment, not theirs.
In similar fashion, if you invest in a stock and it declines, you are not going to get your losses covered by anyone. You would need to wait until the stock rebounds or sell at a loss.
When someone decides to purchase a home, it is a risk. You assume the risk if the value declines and you benefit from the proceeds when the value increases and you sell. Why should the bank eat the difference between the home value and the loan balance? That is YOUR investment, not theirs.
In similar fashion, if you invest in a stock and it declines, you are not going to get your losses covered by anyone. You would need to wait until the stock rebounds or sell at a loss.
never. you are in principal responsible for the risk.
