The whole "bailout" has been fascinating and depressing. American taxpayers are going to be paying the bills to support a political publicity stunt for generations to come.
The news also isn't good for the housing market. By the government falsely supporting housing prices through injecting federal dollars they are only interfering with a market system that self corrects when necessary. This is only setting us up for harder crash later on.
Also - the idea that the only homeowners eligible for assistance have to be 90 days behind. First, that is unfair to those that need help but have been doing everything they can to stay current with their payments. Second, it will inevitably lead to some people thinking they will automatically be eligible if they don't pay for the next 90 days only to be wrong and end up losing their homes.
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