Mortgage modification plan

Edward Glaeser, an economics professor at Harvard University, doesn’t think President Obama’s new mortgage modification plan will help the housing market:

A massive refinancing effort is likely to have little impact on the economy or foreclosures or housing prices. What it would do, however, is hurt our government’s already precarious balance sheet by reducing the payments on its vast mortgage portfolio.

SEARCH FOR CONDOS FOR SALE AND RENTALS

Comments

comments

Call Now