I guess 800 BAIL-OUT was taken?

Tried the same thing. Doesn't work. Just like his plan is not going to work. Borrower's should learn to take responsibility for their own actions. At max there is only about 10% of mortgage involved in fraud, it's proabably more like 3% and they blame that for everything. How about blaming the homeowner who knew their rate was going to increase yet they liked that cheaper payment. They call them sub-prime loans for a reason. The borrower's had bad credit to begin with, now the entire market has to bail them out, because "guess what, thye have bad credit again"!

Anyone lending to people who need not show any ability to pay had better build some profit into the foreclosure process. Yeah, it sounds predatory to me. There oughta be a law...

But wait! Call right now and we'll include a free leatherette document pouch, just pay shipping and handling.

The number is 888, not 800.

He gave out the wrong number. Should be 1-888-...

http://news.yahoo.com/s/nm/20071206/od_uk_nm/oukoe_uk_usa_subprime_bush_number

Got right through!... HOWEVER, they are only willing to help homeowners who are behind in their payments, not the ones who are current, such as myself, and know their rate WILL BE adjusting. Basically, get behind, screw up your credit, get stuck with not being able to refi because you are behind, and then we might be able to help.

If you are current, call your mortgage company, which I have, and ask them to help before you do fall behind. Well Countrywide wont help me either because I'm current.

They dont want to help the people who know they WILL BE in trouble as soon as it adjusts.

In refernece to Aaaron's comment: I never had bad credit, never. I got into this loan because 1) My husband was supposed to have a job transfer. 2) the market was booming and we had equity in the home which we used to pay off other debt 3) we knew we had to refi in 3 yrs so the rate wouldnt adjust too high on us. Well, because the housing market fell we were unable to refi and my husbands out of stste job transfer didnt work out because the economy went downhill.

Because of Bush's stupid misquote, a church academy in Ponder, Texas was the recipient of a LOT of unwanted phone calls. See link below.

http://www.dallasnews.com/sharedcontent/dws/news/city/denton/stories/DN-ponder_08met.ART.State.Edition2.37253b0.html