Another Flip-Flop
Posted by Mike Gehrke on April 11, 2008 at 11:31 AM
After taking the heat, McCain flips on mortgage help. But which plan will he settle on?
McCain’s proposal, which he called the “HOME Program,” would let some homeowners replace their mortgage for one that is more in line with the depressed value of their home. He said the plan, to be guaranteed by the Federal Housing Administration, would be limited to those defaulting on only a primary residence and to those who could afford a new mortgage.
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Plainly, though, McCain and his campaign aides are grappling with finding a middle ground between the interventionist approach favored by Obama and Clinton and the preference of most conservatives not to reward what they view as careless behavior on the part of home buyers who got in over their head.
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Posted by Freespeechamerica on April 11, 2008 at 11:58 AM
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