Karl
Highlands Ranch,#2Consumer Comment
Wed, May 27, 2009
go WAY DOWN because GM will most likely file for BANKRUPTCY soon. This single event will cause MILLIONS of more LOST JOBS throughout our economy, which will result in MILLIONS of more FORECLOSURES over the next few years. It'll also cause more Credit Card DEFAULTS, & other LOAN DEFAULTS. However, the BANKS will need to make their money back, so I believe that Mortgage Rates will go up. WAY UP! Back in the late 1970's & early 1980's Mortgage Rates were around 13% to 16%. As home prices continue to go down, the banks will steadily raise the rates to compensate, so they can make their MONEY! It'll most likely happen again. Our economy is COLLAPSING, and the BANKERS will do all they can to recoup their losses that were a direct result of the BANKS allowing ARM's & 'Interest Only Mortgages' to flourish over the last several years. The government will protect the BANKS & the BANKERS because these are the ones who CONTROL the government, in my opinion. 'Google' this- INSIDE THE MELTDOWN, and watch that Frontline documentary! Then 'Google' this- AMERICA: FREEDOM TO FASCISM, and watch that! Then 'Google' this- DID SPECULATION FUEL OIL PRICE SWINGS, and watch that too! You see, the banks & the bankers DO control this country, wouldn't you NOW agree? Good luck to you! SPREAD YOUR RIP OFF REPORT ALL OVER THE WEB!