He even said he would force the loans to be rewritten on the homes BASED ON THE CURRENT PRICE OF THE HOME, COUPLED WITH LOW, FIXED RATE APR.
So, if you had a $1,000,000 adjustable rate and the home is now worth $300,000, either the bank or the government would lose $700,000 in cash to help this person (possible one of 5 million illegals) keep their home.
That's McLame.
The only way I would support this is if all the money is stripped from those executives that stole millions and all the campaign cash that was donated from them for the last 10 years is forced from the twisted little thieving hands of congress critters. That money can be used for these “re-negotiations” and I will cheer wildly.