All Commentary
Thursday, February 9, 2012

States Negotiate $26 Billion Deal for Homeowners

“While the $26 billion figure is the one being cited in the negotiations, federal officials said they hope the eventual value for homeowners reaches up to $39 billion. However, mortgages owned by the government’s housing finance agencies, Fannie Mae and Freddie Mac, will not be covered under the deal, excluding about half the nation’s mortgages.” (New York Times)

At least they’re honest about hoping this program costs more than estimated. And about mainly trying to shift the blame.

FEE Timely Classic

Can the Feds Save the Housing Market?” by Robert P. Murphy