I have too many mixed feelings about the recent "freeze" Bush has blanketed the U.S. with. Being a conscienscious individual I am (unlike many others around me) concerned about peoples well being. In one aspect this may be a partial token to helping balance the economy to a steadfast uprise. Although this problem seems to be partially controlled, I read in the Wall Street Journal that auto loan delinquincies are on the rise. So, essentially we are robbing Peter to pay Paul.
I feel that most of this will just encourage wreckless spending of the consumers dollars. Although many of the bad mortgages were written before Bushs relief starting point (January 05), this only balances the few that see hope of starting the climb back upward to claim thier stake as remortgageable in 5 years. As for those who see no hope or just care that the monthly note has gone down, why not fund that new pleasure toy or travel beyond normal means.
As an investor, this still holds light to an ever off balanced portion of those who do view this as an opportunity to regain the focus of a legitmate homeowner. For those with pride in thier home this proves to be an answer from the alter and the quest to revive their economic status as "current" homeowners has once again shown the horsepower of real estate.
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