American Housing Rescue and Foreclosure Prevention Act is an Almost Done Deal

The Foreclosure Act  Is Only a Band AidCongress is throwing money at the housing crisis with the  new American Housing Rescue and Foreclosure Prevention Act of  2008.

 

Will it help?

 

Probably not, because it doesn’t address the real cause.  Greed.

It only puts a very expensive band aid on a symptom or two.

 

Yes, there have been many problems with the last boom market.  Too many.

 

But I still say many people got caught up in the hype and didn’t do their due diligence. 

 

Folks, you’d better know what you’re doing before you sign a mortgage.

 

But is it my responsibility as a taxpayer to bail them all out?

 

No.

 

There’s an interesting coded message in Senator Barney Frank’s comments which I think is not just election talking head rhetoric.

 

“By expanding homeownership opportunities and protecting families against foreclosure, we are helping keep the American dream of owning a home alive,” he says.

 

Is he saying what I think he’s saying?

 

That owning a home is an American right?

 

Read more about the Housing Rescue and Foreclosure Prevention Act.

Pelosi: ‘Housing Bill Most Far-Reaching Reform of Our Nation’s Federal Housing System in a Generation’

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