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My questions is if anyone benefits, who will it be? Mortgages under $200k or the big ones over $400k+?
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I would bet that it will help more of the $200k borrowers because the $400k plus is in places like Cali and Florida where they experienced 100% appreciation in a few years. The 200k will be less risky for them to do this with and cost them less.
Everyone needs to realize that the banks are using you all as poker chips on their books and for accounting purposes and if you are not in their hand, then they plan to throw you under the poker bus. Sooner, rather than later.
They are not our friends and the will NEVER be. We are pawns in their game.
My question to all is, "How long are you going to let these banks control the people of this country?"