Should Banks Convert ARMs into Fixed Rate Loans?

November 26th, 2007

CNBC has a great aricle titled: “Loan Modification Anyone?”

The article does bring up a good point… while saving buyers that are in danger of losing their homes is a good policy, going too far is not fair for everyone else and can potentially lead to more fraud in the market.  It’s amazing to see the differences in opinion and direction this market seems to be taking.

All I know is that they better come up with something… the foreclosure market continues to grow as a percentage of listings for sale on the MLS and that isn’t good for the long-term health of our housing market.

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Posted in Foreclosures & Short Sales, Info for Buyers, Mortgage Market, Opinion | Comments (0)

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Edina Realty
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Edina Realty Aaron Dickinson
Licensed in MN


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Should Banks Convert ARMs into Fixed Rate Loans?