Unformatted text preview: steady. Not to many people seem to be unhappy with this decision however, mainly because most borrowers don’t deserve to be rescued by their lenders for their own bad decisions. I think that this is going to make a big change in the short run since many more people have to pay more money on their subprime home loans. While this change isn’t going to last for the entire future, it is good for borrower’s to fight through the change that is happening now in hopes of the rate getting back down to what it used to be in the next 7 years. Although most borrowers whose loans are resetting are likely to have a tougher time with the rising payments, I think that most people will be able to efficiently deal with it if they really work for it. Solomon, Deborah and Phillips, Michael M. (2007 November 30) U.S., Banks Near A Plan to Freeze Subprime Rates. Wall Street Journal. Pp A1, A12...
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- Fall '07
- Mortgage loan, Subprime mortgage crisis, Bush administration