Mortgage Blog

Will mortgage loans be affected by raising government debt ceiling

January 26th, 2012 8:35 PM by Michael and Jill Kohler

 I hope so. It seems if we as a country can vote that easily to hike our debt ceiling for the "benefit" of the county, then it seems only fair that our government should hike mortgage loan limits through government sponsored agencies like Fannie and Freddie, and lean on all these big banks to loosen up their lending standards as well. There are a lot of hard working Americans who are trapped in 6% and up mortgage loans that could benefit a great deal by having the opportunity to refinance loans and save several hundred each month.  That's money that could be put to work directly into our economy instead of their inflated Wall Street earnings reports.  After all, it was ultimately the taxpayer who bailed out those banks who were "too big to fail." Now that they are reporting recording earnings yet again, let's see them give back to the regular folks who's tax money provided those bailouts.

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Posted in:General
Posted by Michael and Jill Kohler on January 26th, 2012 8:35 PM

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