The Mortgage Rescue Plan: Will It Work?
The answer? An emphatic no. This is simply the latest example of legal plunder perpetrated by the federal government against law-abiding tax-paying citizens.The Obama administration’s scheme to help troubled borrowers by subsidizing interest payments which would help borrowers make ends meet without angering those investors expecting full payments each month. This marks the first time the government is intervening directly with taxpayer funds to ease the burden of monthly mortgage payments. Bloomberg reports the plan will be voluntary for lenders like Wells Fargo (WFC) Citigroup (C) and Bank fo America (BAC) and will employ many of the tactics previous ...
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