Hey listen. I like to complain about the government like everyone. It is the American thing to do after all.
Though, I want to, for once, take a moment to say that I think the government is doing a lot, maybe not everything, they can to stimulate the flow of money into the hands of borrowers. Trying everything to get the real estate market going to stave of a deeper recession.
According to Alan Zibel, AP Real Estate Writer ,
the government has offered another plan to help troubled homeowners.
Once again, critics say it doesn't go far enough.
The plan announced Tuesday by federal officials and mortgage giants Fannie Mae and Freddie Mac sounds sweeping in its approach:
Borrowers would get reduced interest rates or longer loan terms to make their payments more affordable.
But there's a catch. The plan focuses on loans Fannie and Freddie own or guarantee. They are the dominant players in the U.S. mortgage market but represent only 20 percent of delinquent loans
Comments(0)