Is Obama preparing a trillion-dollar, mass refinancing of mortgages?

I'm sure banks will be lining up to lower interest rates on underwater borrowers.

 

as opposed to what? foreclosure? letting them sit empty and continue to devalue?

 

i think this adequately displays how an opinion as vague as many of yours is not an opinion at all.

 

i do have an opinion, i dont want any bailouts for homowners. i want the market to correct itself. i want people who pay more than they can afford for houses to bear that responsibility. i dont want taxpayers, people who rent, to help pay for other people to have houses. it is not in the general interest of humanity for people to own houses. renting is fine. i rent, and i am happy. i can move anytime i want, it is nice. i dont care if you get foreclosed on, too bad, buy things you can afford.

so i oppose government help for refinancing. very specific. you favor something or other but maybe not, i dunno, nobody knows. you say you favor things, but never discuss who pays for them. this is why we make delightful points when we say we favor unicorns and dragons.

 

That is a bailout that will cost you and me money. If you don't understand why, I can't help you.

 

Maybe so, but the banks will figure that out. They will make the determination with the borrowers. They shouldn't be forced into a program that either forces them to lower interest rates on non guaranteed loans or allows them to refinance bad loans because FHFA decides that it makes good sense to guarantee bad loans at even lower interest rates.

 

you know, I agree with the basic premise of this post but it begs the question, "Is it fair that taxpayers were forced to bail out the banks but the banks shouldn't be forced to lower interest rates on loans that are current?"

I get it that you don't want further government intervention and therefore expanding the government's footprint but please answer my question.