Mr. Cynical

Solve the Housing Crisis by Rewarding the Prudent

Markg....


Theoretically, no one picks up the tab. The idea is to allow homeowners to refinance their existing 6% mortgages for 4.3%. wa-la, instant lower payments for solvent households. The question is, where does the money come from to pay-off all the 6% loans? The fed would have to print, oh, I don't know, about 6 trillion dollars to do that. wa-la, rates aren't 4.3% anymore.