I also have a bit of a problem with the use of the word “fraudulently” in that particular provision. Is buying a home with an income you lied about with the lenders blessing because you could refinance later fraudulent?

I personally think it is, and it widens the realistic definition of “speculator” as well. I think almost anyone who bought a home between 2003-2006 was “speculating” on future home appreciation, whether they want to admit it or not.

After looking this thing over, I doubt very many people are going to qualify for the program. That’s probably what was intended all along; the pols just want it to seem that they’re doing something useful to save the housing market.