[relaxinrob]

One point that has not been covered is that the people holding these sub-prime loans on properties they purchased over the last two years CANNOT refinance them into something else because their properties won't appraise....so they are stuck with what they have. At least if the interest rates are eased, they may be able to find something to replace it in the near future.

Are these people responsible for getting involved in this type of loan. Yes. But I also blame the greedy mortgage brokers that put them into these programs just to make a quick commission.