Political Edge By John Darren

White House could unveil mortgage plan next week

 Saturday, September 03, 2011
(Reuters) - The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.
Let me make sure I understand. Obama wants to offer lower rates than the current ones which are extremely low. He will help refinance homes of persons who had no business buying a home that they could not afford in the first place.

Oh, well then. I am going out and buying three Land Rovers and hoping he will hook me up. Never mind that my debt to income is not adequate. At what point do we actually start allowing people to learn their lessons? How about this? Offer BANKS the option of trading people who cannot afford their current home with one in their actual price range. Take the original person’s home and sell it at the current interest to someone who wants to upgrade but is being held up due to tighter regulations.
Post has no comments.
Post a Comment

Captcha Image

Trackback Link
Post has no trackbacks.