Cheap Mortgages: America’s Hidden Entitlement

If you take this away especially in light of today’s tight credit market things will only get worse – no loans, no new homeowners, no confidence, no economic recovery.

These programs did what they were meant to do, the problem stems from the savvy investment bankers who found the loopholes to exploit the system and created the insatiable demand fueling the crazy housing price increases through the early 2000’s.  It all goes back to the very simple concept: follow the money.

These programs should live on albeit with some revised regulatory and ENFORCEMENT mechanisms put in place.  Problem is probably no one in Washington has the will to do what needs to be done.  Regulation with teeth and, dare I say it, government agencies empowered to enforce the laws and protect the economy…

http://www.theatlantic.com/politics/archive/2011/08/cheap-mortgages-americas-hidden-entitlement/243523/.

 

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