A friend asked me "How will freezing interest rates on subprime loans benefit the appraisal industry as far as work?"
Congress is making noises about doing something to help homeowners who can't meet their mortgage payments hold on to their slice of the American Dream.
Democratic presidential frontrunner Hillary Clinton, senator from New York, wants even lower mortgage rates for homeowners facing foreclosure. Senate Banking Committee Chairman Chris Dodd, Democrat of Connecticut, and House Financial Services Chairman Barney Frank, Democrat of Massachusetts, are holding hearings to determine Congress's legislative options.
funny about all those brilliant bankers who got the bankruptcy laws changed so you cannot write off CC debts as easy....make the CC payments, skip the house payment..they have to work that out. smooth move exlax...Oh, and I could use help with my credit cards while your at it...
the problem is not the interest..its the principal and the only way to change that is inflation...rob the value via inflation then a few years down the road you can refi.... Negative interest rates won't help a lot of these investors who bought 4 new houses and was going to flip for a profit in 6 months.Right now, interest rates are pretty darn low