Bill O'Reilly has his problems with the Free Market this is brought by his talking points from 6/7/2010, watch it below,
Bill O'Reilly talking points 6/7/2010,
Well I have another response to O'Reilly.
Well, I think Bill O'Reilly has forgotten the refinancing boom of the 2000s, when people were told to take money out of their homes by refinancing, the theory was that you could get extra cash by taking the available equity out of your home by extending the years on your payments. It sounds like a good idea, but it can cost you a lot more, you extend your mortgage obligation for more years, draining the equity out of your home, and as recent financial crisis has shown housing prices are not guaranteed to increase, this also can count toward businesses and business properties.
Think about it if the dinner owner was to get a loan and the market and economy keeps going south and he couldn't pay it you can expect O'Reilly would go after that bank.
The problem is when property prices drop continually as they have over the past few years, one could find themselves owing more money on that new loan than your property is even worth, especially a business in a bad economy. There is nothing worse than paying a mortgage on a property or business that you are upside-down in. Which would more then likely have Obama and progressives leading a charge for another bailout.
Solomon.
P.S. I know that this was a week late but rethinking about the housing crisis brought this about.
Glenn Beck Clips May 2013 2/4
10 years ago
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