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While many economists are pointing to a housing recovery something we'll debate in just a moment.
Uncle Sam the government seems to think the market still needs help.
Another government program is being rolled out to lower monthly mortgage payments for homeowners who can't make those payments.
Here's what makes this program different from so many others -- government has already rolled out.
Those -- mortgages backed by Fannie and Freddie will no longer have to provide documents proving financial hardship.
Under this streamlined program borrowers -- get their payments reduced by changing interest rates extending the length of the loan and forgiving principal.
It's not free money homeowners will have to go through a trial period where that make at least three payments.
Now all of this stems from the Obama administration pressuring Fannie and Freddie.
And the federal housing agency to do more to help homeowners.
Right now there's a villain in this congress that would give every responsible homeowner America.
The chance to save 3000 dollars a year by refinancing at today's rates.
Democrats and Republicans have supported it before.
So what are we waiting for that.
Take a vote and send -- that bill right now overlapping regulations keep responsible young families from buying -- first don't.
What's holding us back let's streamline the process and help our economy grow.
Now Ed DeMarco did not like that plan so we put out a new -- For giving these selling -- loans would be too costly especially for taxpayers he's right.
Fannie and Freddie are paying mortgage servicers to process each modification.
They will in turn absorb the losses and their money is really our money.
The two companies still -- taxpayers more than a 135 billion dollars from the bailout don't forget that.
These programs are just more incentives for homeowners not to pay what they go.
This administration keeps -- helping those that are not.
Helping themselves and this is not making the economy better it just making more people dependent on the government.
And want to get a handout the only thing that accomplishes.
Is the desire for more handouts.
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