The Whitehouse is so concerned for these people with resetting ARMs. This new policy implies that the govt thinks these people should be saved from themselves.
I propose the govt goes one step further, and completely eliminates the ability to finance using ARMs. This will further save the American people from their inability to make sound financial decisions.
Then, maybe I’ll be able to afford a house with a 30 year fixed… bringing true long term stability to the American people.
Seriously though… what would eliminating all but 30 year fixed mortgages do to the housing market?
I’m fine with that type of government intervention.
