Government Intervention

Government manipulation is what greatly contributed to the current mess, it shows much arrogance to believe they can tinker their way out the mess they created.

clipped from www.inman.com False hope for homeowners The U.S. government has started several programs to help homeowners escape burdensome mortgage payments and avoid foreclosure. But so far, these programs have amounted to little more than false hopes. Programs with catchy names like "Hope for Homeowners" were announced with much fanfare and great promise. In effect, these programs meant that we, the U.S. taxpayers, held out the hope of mortgage relief to our neighbors, both nearby and far afield. We gave them hopes of "staying in their homes," as government officials so often phrased it. But so far, these programs haven't delivered even a tiny fraction of the promised relief. The "Hope for Homeowners" program created late last year was supposed to help 400,000 homeowners replace troublesome mortgages with traditional 30-year fixed-rate loans. But as of early 2009, only 25 new loans had been approved. Yes, you read that right: not 400,000. Just 25.