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Flip This Mortgage Plan!

Posted by Mike Gehrke on March 28, 2008 at 10:51 AM

John McCain takes a ride on the Pander Express! He delivers different messages to Ohio voters and TV cameras:

Despite his criticism this week of government intervention in the mortgage and foreclosure crisis, Republican presidential candidate John McCain sounded friendlier toward struggling homeowners last month when he campaigned in Ohio. [...] The presumptive Republican nominee, who described himself as a "Roosevelt Republican" during the interview, said he was willing to "provide more relief" to homeowners who can't afford increases in mortgages because of their adjustable interest rates.

That's a different tone from the rhetoric he used Tuesday during a speech in which he suggested homeowners facing foreclosure have only themselves to blame.

And McCain's Stick-A-Bandaid-On-It approach just isn’t going to cut it. Here's what the LA Times says about his plan simply applying pressure for lenders to help voluntarily: "The Bush administration is already applying that pressure, but even when lenders comply, they're hampered by the scale and complexity of the problem."

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