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The
New Auto Rescue Plan - How Will This Affect You If You Need Help
With Foreclosure?Being in favor of help for
homeowners facing the possibility or in need of help with
foreclosure, is very hard to pick a side or take a position
regarding the new White House Auto Rescue Plan announced Friday
morning by President Bush and the families who need help with
foreclosure. "In the middle of a financial crisis and economic
recession letting the auto industry go bankrupt is not an
option," said President Bush in his speech. "Bankruptcy is
unlike to work for the auto makers at this point," he added.
This Auto Rescue plan includes a
13.4 billion dollar in short term loans right now and a possible
4 billion dollars more in February.
The industry will have 3 months
to turn things around, or they will have to pay the money back
to the government and file for bankruptcy at the end of the
three mints period. But, my question is; how exactly are they
going to repay the money back if they end up go bankruptcy?Read rest of article | | | | | | |  | |  |
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