Frozen Mortgage Rates? Agree or Disagree

[Maengelito]

There's a name for this program... it's called Welfare.

This doesnt cost the gov't (taxpayers) any money though. Just the banks in the form of lost revenue, although if people dont pay their mortgage they lose even more so ultimately this decision should be up to the lenders and not the gov't.

I dont agree with bailing people out that bought more than they could afford though. Let them roast.

i think its a bit more complicated than that. i dont know all the details but from what i understand, lenders advertise these awesome low rates to entice people to buy houses and take out mortgages. the lender then essentially sells the mortgage to another financial institution and it eventually makes its way to one of the govt backed mortgage lenders sallie mae or freddie mac. if all these foreclosures stop the flow of money, it could have some serious consequences on our economy where we all get screwed.

but yeah, i do think its shitty that people made stupid decisions and now they might get help because of it.