I know our government is bloated, corrupt, and inept, but I can’t imagine even them doing this without some kind of collateral/repayment. In other words, it will be 20 years before these idiots see any equity. Maybe they’ll have a much lower payment than the responsible people next door, but they’ll essentially be renting from the government.
At least I hope so.
We can also pray that people who blatantly lied on their original loan application are immediately disqualified. I doubt that will happen, but I can dream.
