Well, not everyone appreciates the government’s effort to try and help homeowners facing mortgage challenges. I can understand both sides of the issue, I just think that doing something is a lot better than nothing in the current economic climate. A recent USA Today editorial makes a similar case, and says “Freeze those teasers.” But others take a more hard line view such as Mr. John Berlau at the Center for Entrepreneurship at the Competitive Enterprise Institute. Interesting viewpoint, but I just don’t think it’s really that significant over the long term. Reform is necessary in the mortgage lending industry, and I suspect legitimate mortgage lenders will work a little harder to ensure clients understand the terms of mortgage loan contracts in the years ahead. Is it Congress’ turn now? We may see additional legislation to try and help people facing ARM resets and foreclosure. How do you feel about it?
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