Thursday
Jan312008
Senator Richard Shelby (R-AL) Speaks About the Stimulus During Senate Committee on Banking, Housing, and Urban Affairs
Staff
Senator Richard Shelby (R-AL) offers his feelings on the stimulus and the problem concerning government spending during a Senate hearing focused on strengthening our economy by solving foreclosure and neighborhood preservation problems this morning. (0:44)
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Reader Comments (2)
Hi! I have a suggestion that will help all the people in foreclosure. If they are like me and got SCREWED in their refinance like I did by Citi Financial and borrowed $50,000.00 and supposedly got a better rate and ended up with a house going from $1200.00 to 41984.00 and I wasn't allowed to spend the money a needed,thet paid partial payments on several accounts that were at 10% when I needed to pay off a creidit card that was at 29% and was paying 29% on and paying $2,000 a month on, plus they charged me $16,000 in fees.Some thay tried to pay on accounts that I had never heard of,when thay couldn't find them they sent the checks to me and told me to pay them, this really put me in a strain and ruined my credit. My point is thay scammed me and now I am losing my house and I will have no credit to buy another home. My suggestion to you is to pass a law that these foreclosures not be allowed to be posted to our credit so that we will have thw ability to find another place to live that we can afford. We didn't exactly get ourselves into all of this mess so while you are bailing out these banks that got us into this why not help the little man a little bit so that we can have a home. Loan us money but only the amount that we can afford at a reasonable rate. Do you HONESTLY think that is asking too much? I can accept losing my home but you owe it to the little man to help us keep a roof over our heads and not double the rate of homeless people, after all without our credit we cannot even rent an aparment, has anybody even thought about this problem, because it is going to be astronomical before long. My Regards,
Terri Vines
P.S. I will be one of them
Sorry I made a mistake my payment went from $1200 a month to $1984 a month