« Jobs Number, Part 2 | Main | Gasoline Consumption Down »

I Don't Get It

Posted by Chris Farrell on Sunday, May 11, 2008

I got an email press release the other day trumpeting, among other things, the following:

Fannie Mae will allow borrowers to refinance up to 120% of their home value if they are currently paying their mortgages on time.

'This is a huge positive development for responsible homeowners who are faithfully making their payments, but simply find themselves in a negative equity situation due to declining real estate values,'....

Isn't it deals like this that got so many homeowners in financial trouble. It's a bad move.

Comments (1)

G Sebastian:

please post a date rather than the day of the week on your blog postings

Posted by G Sebastian | July 4, 2008 9:34 PM

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Name:

Email Address:

URL:

Remember personal info?

Comments: (you may use HTML tags for style)

Your comment may not appear on the blog until several minutes after it was submitted.

Subscribe to RSS

Latest posts

Obama and McCain on Taxes

The Little Book That Saves Your Assets

In Praise of Speculators

Zandi's Forecast

Bad News on the Economy

Good News on the Economy

Deal Mania

Back to 1979?

Gasoline Consumption Down

I Don't Get It

Topics

Latest comments from recent posts

I Don't Get It (1)
G Sebastian wrote: please post a date rather than the day of the week on your b... [read]

In Praise of Speculators (1)
Jake M. wrote: Crazy talk. I'm in favor of speculators, but I can't believ... [read]

Bad News on the Economy (1)
Reynolds Moore wrote: Chris, Can you comment on the price of oil at the pump? I wo... [read]

Save for Retirement or Pay Down Mortgage Fast (4)
Rhys wrote: Hi Chris! What about adding the quality of life factor in t... [read]

The Student Loan Bubble Goes Bust? (15)
Mike wrote: A key contributing factor as to why schools charge so much f... [read]

July 2008
S	M	T	W	T	F	S
		1	2	3	4	5
6	7	8	9	10	11	12
13	14	15	16	17	18	19
20	21	22	23	24	25	26
27	28	29	30	31

Appearances and Worthwhile Events

Policy and a Pint: Health Care Handcuffs

More From
Chris Farrell

Marketplace Money's Money Clip Video

How Alan Helped Ben (BusinessWeek.com)

Other Blogs

Andrew Tobias

Angry Bear

Becker-Posner Blog

Brad DeLong

Cafe Hayek

Calculated Risk

Econbrowser

Economics Unbound

Economists View

Financial Rounds

Finance Roundtable

Greg Mankiw's Blog

Hot Property

Marginal Revolution

New Economist

TaxProf Blog

The Big Picture

Vox Baby