Also, without modifying these mortgages, allowing people to stay in their homes, you would have a lot more foreclosures than we have right now.
Unfortunately the government sponsored loan modification programs and what not aren't working very well... My wife manages a loan modification department. Over 75% of people with their loans modified end up back in default within 6 months.
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'09 1500 Laramie Crew - Mods: Loaded STI GP6 under the seat, Cooper Zeon LTZs (305/50/20), Resonators Removed, Mobil 1 http://www.ShirtaDay.com
Other Vehicle: '08 Hummer H3
Past: '08 Corvette 3LT & '07 1500 QC Laramie (modded)
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All though this thread belongs in the off-brand forum, I agree, the government helped Chrysler and will own a small 8% of the company when all is said and done. No controlling interest.
Obama Motors will own 70% of GM when all is said and done. WTF?? I don't want to own 70% of GM. That's just stupid.
Then Penske is going to buy Saturn and outsource the building of the cars to a 3rd world country and Hummer is being sold to a Chinese outfit. I can't believe that we are going to allow more imported vehicles into this country. There should lready be a heavy tarrif on these Korean made pieces of jumk like Kia and Hyundai (which I know that a few are made in California, but that is an alien nation all in itself).
