Doug (something) (McCain advisor) on Hardball just said...

[nannycee]

...that the American taxpayers would have to absorb the costs of revaluing the house mortgages as suggested by McCain. Then he said they would also have to also pass a "credit check" when pressed by Chris about this line of thinking (or lack of thinking).

Ok, so, if someone was nearing foreclosure, what are the chances they have the good enough credit to qualify?

If they had a subprime mortgage in the first place, doesn't that imply they may (MAY) have had poor credit to begin with?

Therefore, even their crappy suggestion wouldn't help most (if any) of those affected.

Note: edited 1 million times cuz I'm new and know that I may write this up wrong..;)

[YDogg]

1. welcome to DU!

[nannycee]

3. Thanks! :) I'm so addicted!

I'm home recovering from surgery and it's all DU, all the time. :)

[donco6]

2. That's just stupid.

The point of revaluing the mortgage is to get SOMETHING out of the loan, rather than a foreclosure where income stops until you resell the house. Why would you make someone "qualify"? You want to evaluate the risk of someone facing foreclosure?

Hey! Maybe that's a new line of work for me! I could make MILLIONS! "NO. <stamp> NO. <stamp> . . . "

[Bad Thoughts]

4. Good questions

Not everyone who took a subprime loan is poor. That's a myth propagated by Faux News. I even know of rather well off families who took subprime loans to finance expensive homes (their third home, no less). The McCain plan probably bails them out.