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Personal Finances / Buying or Selling a Home


Subject:  Re: Freddie Mac Bets AGAINST American Homeowners Date:  2/5/2013  7:28 PM
Author:  crackdclaw Number:  124675 of 128866

Back to HARP loans. If banks, as quid pro quo for being bailed out, had been forced to refinance anyone who qualified (meaning, current on their payments) to historic low interest rates, the resulting improvement to the household cash flow of millions of Americans would have bailed us out of the recession, which is ongoing to this day.

Wow, we're in agreement twice. Agree that the purpose of HARP was to provide debt relief and increase cash flow for homeowners, providing them additional dollars in the pocket each month. So, you're in favor of HARP? Because it does force banks to refinance underwater homeowners who are current on their mortgage payments. And if I understand correctly, you prefer the government to have stepped in with a morer forceful and larger role, and dictate to private banks that they refinance any mortgage that would qualify under HARP, even the loans owned by a private investor and not owned by Fannie or Freddie. All in the name of stimulus. Are you sure you didn't leave your Fool password on a stickey note next to the laptop?
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