Why is it that politicians only like to "seem" like they are helping. President Bush earlier this week presented a "solution" for the subprime mess. If you look at the details of the program, it may help 1 to 2% of those who will end up in trouble from their rate increase. The person has to meet very strict guidelines and then hope their lender is participating.
What no one says is that that person is the one who is better off refinancing with the lower rates today. That person will be able to qualify for a conventional or FHA loan. It always frustrates me when politicians look for photo ops not solutions.
Comments(3)