In San Antonio on Tuesday, Obama said that Clinton’s foreclosure freeze was potentially “disastrous,” rewarding “people who made this problem worse” by benefiting banks that profit from high mortgage rates.
A “blanket freeze,” Obama added, might “drive rates through the roof for those trying to buy or refinance. Experts say the value of homes will fall even more, and even more families could face foreclosure.”
And just yesterday…NYTimes:
He also proposed a 90-day moratorium on most home foreclosures; it would require financial institutions that take government help to agree not to act against homeowners who are trying to make payments, even if not the full amounts.
The change in opinion, is naturally, because we need change. And hope. This latest Mickey Mouse idea, endorsed by none other than Mickey Mouse.