Toro
Diamond Member
- Sep 29, 2005
- 112,313
- 65,327
The Obama administration may expand efforts to ease the housing crisis by banning all foreclosures on home loans unless they have been screened and rejected by the governments Home Affordable Modification Program.
Obama May Prohibit Home-Loan Foreclosures Without HAMP Review - Bloomberg.com
Boy, its hard to underestimate how idiotic this policy would be. If the goal of the administration is to cause banks to lend even less, this is a great way to do it.
They've got to get some people with real business experience in there.