BarometerSoup
New member
...does he get to keep them? When house prices were skyrocketing in California, a lot of my friends refinanced to take equity out of their homes. They used the equity to buy cars, vacations, pools, etc. Now that house prices have fallen, however, they have 2 or more mortgages and are "underwater".
Obviously, there is no way to take back a vacation or a pool, but under r McCain's proposal to buy their bad mortgages and reduce the balances - will they get to keep their Beemers and Mercedes?
Obviously, there is no way to take back a vacation or a pool, but under r McCain's proposal to buy their bad mortgages and reduce the balances - will they get to keep their Beemers and Mercedes?