Bye Bye Banks and Wall Street

[katiesue]

Am I incorrect in understanding that the bailout or whatever you want to call it is just at the financial institution level. It does nothing to help mortage holders directly?

[BarTopDancer]

Originally Posted by katiesue

Am I incorrect in understanding that the bailout or whatever you want to call it is just at the financial institution level. It does nothing to help mortage holders directly?

From what I understand, there may be a mortgage payment reduction plan of sorts introduced. I'm not clear if it literally shrinks the total mortgage or extends the payment terms which would shrink the payments and they end up paying more in the long run.