Do the figures in this new homeowners rescue plan make sense?
It appears pretty lopsided to me as to what the lenders get versus how many homeowners could benefit. Why does it look like the lenders are going to make money off this deal?
“The president’s proposal would pay lenders $75 billion in subsidies to reduce mortgage rates for families facing foreclosure. It would change the rules to allow Fannie Mae and Freddie Mac to refinance homes worth less than their mortgages.
As many as 9 million people could receive help.”"”
Does anyone know how this would work?
for Cattitude………me either. I don’t think I would have ever been conned into buying more house than I felt I could comfortably afford.
What I see is $75 BILLION going to freddy and fannie just to give a temporary reprieve to 9 MILLION over extended homeowners. Good old Freddy and Fannie can have a grand time with that kind of money handed over.
Cheryl
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4 Responses to “Do the figures in this new homeowners rescue plan make sense?”
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Josephine
All I know is that I borrowed responsibly so I won’t be getting a dime!
Debra
it may hurt the country but screw all the people that cant afford there mortgages. how hard is it to calculate a house payment and what about all the people that lost there houses already. we will one day get out of this mess but bailing people out will not teach them a lesson. This is just another diversion from the obama administration from what really need to happen in america. we need to become the country of producers not consumers.
Rhonda
Has it not become perfectly obvious to you that NO ONE knows what’s going on or how to fix it?
Raymond
I make my payments before they are due. Does that mean we will not be helped by the $75 billion in subsidies or is it just for freddie and fanny, and companies like them. We owe more than they are worth. Truck and home. We in someway will have to help pay back the money that was spent on this recovery.