My February interview with Mike Foreman of constructionguru.com.
I talk to Mike Friday afternoon, June 18, 2010.
"The government needs to come up with a loan program or they need to tell the lenders to refinance that loan, include the six-month moratorium, include the funding required to correct the house, and then lower the interest rate so it comes out to be the same payment people had originally or less.
"A program like that would answer a lot of the issues coming out of this. And if there's a settlement to the class-action lawsuit and these people get money, then they can have an agreement that that money goes straight to the principle and pays off that part of the loan.
"The judgments that these people got against the Chinese manufacturers are just judgments. They're not checks. They're getting appealed and dragged out. Meanwhile, the consumer is getting hung out to dry. The consumer is being told to spend your savings, do whatever is necessary, and we'll take care of you later. And if later never comes, where are they?"
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