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Should Taxpayers Foot The Bill for Risks Taken by Mortgage Lenders?: New National Survey Says No! - 62% of Americans Believe Borrowers Should Ta
WASHINGTON (Business Wire EON) November 12, 2007 -- Investors as well as aspiring homeowners relied on adjustable rate mortgages in recent years, keeping their payments low while their equity grew. Some of these loans were subprime, allowing people who might not otherwise qualify a chance at the American dream. While eighty-five percent of subprime borrowers are paying their mortgages on time, some borrowed beyond their means and are facing default.
As policymakers debate what to do, a recent survey conducted by the grassroots advocacy group "FreedomWorks" found sixty-two percent believe borrowers should take responsibility for their loans - without government intervention.
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