The Motley Fool Discussion Boards

Previous Page

Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/so-youre-in-favor-of-harp-because-it-does-30526694.aspx

Subject:  Re: Freddie Mac Bets AGAINST American Homeowners Date:  2/5/2013  7:39 PM
Author:  CCinOC Number:  124677 of 126961

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.

Nope. Bankers were waaaaay too short-sighted. Instead of voluntarily refinancing homeowners who were ontime with their payments, they're now awash in foreclosures--a kind of musical houses similar to musical chairs.

I would have preferred the government to be completely hands off instead of trying to manipulate by "stimulating" the economy. Put an incompetent community organizer in charge of it all and disaster ensues.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us