Gov’t Refinance Still Not Coming
Our President is prone to making promises that sound good but don’t really go anywhere. That’s nothing new for any politician but it’s really tough when these promises come during a recession. I know some down and out homeowners who are literally hanging on the president’s every word hoping for some relief from crushing debt. And when Congress drags its feet it can literally make you crazy.
Here’s the latest dragged-out promise:
A government refinance program to let homeowners take advantage of low interest rates.
This doesn’t sound like a tough sell for Congress. I mean, why wouldn’t voters support something, anything really, that Congress would try out to help people. Now, I’m not saying that it would actually help anyone. Unfortunately, government plans are notorious for costing tons of money and there being enough restrictions and loopholes in them to keep the money in the banks and out of your hands.
But for what it’s worth, 16 senators have been demanding to see the President make good on his promise to refinance high-interest loans. But so far, nothing’s come of it. Up until now the most qualified people have been barred from these loans due to annoying restrictions that just don’t make sense in most cases. Meanwhile, the lower interest rates could mean hundreds of dollars in savings each month for struggling families. So what’s with the delay?
Just between you and me, it’s never worth it to count on change from Washington. The best bet is to look to the people right here with you on the street for answers. We know what the real issues are, we know how to provide real answers. And I promise, there is absolutely no red tape in my desk. You can even check my drawers if you want.
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