Monday, February 13, 2012

Champion of His Own Victims: Obama's New HARP Rule

President Obama announced a new government-backed home refinance program. I commented on this at The Objective Standard. Here are the opening sentences:

President Obama recently announced an expansion of the Federal Government’s Home Affordable Refinance Program (HARP). This new initiative seeks to help homeowners who can not refinance their mortgages at today’s low rates because their homes’ values have dropped below their mortgage balances. Obama, who places the blame for the crisis squarely on lenders and banks, says this initiative helps “more than 10 million homeowners in this country who, because of a decline in home prices that is no fault of their own, owe more on their mortgages than their homes are worth.”

Read the rest of my essay, The Government Should Extend Freedom, not HARP

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