|Meanwhile, the FDIC put forward a proposal that would tap into the $700 million bailout package and use $24 billion to help households avoid foreclosure. The plan would guarantee 2.2 million modified loans — mainly risky loans made to borrowers with weak credit or small down payments — through the end of next year.|
Borrowers would get reduced interest rates or longer loan terms to make their payments more affordable and banks would receive government guarantees that supporters say will make them more willing to modify the loans.
There is supposed to be a bailout plan for student loans and credit cards. I am just not going to pay my bills then, why should I suffer when the bastards up above get their bailout welfare program.