Fannie, Freddie to ease mortgage payments?

[oscar615]

Late last week, officials from the Treasury Department and Department of Housing and Urban Development worked with the companies' regulator to agree on standards for who could get relief and how they might coax other finance companies to follow their lead,

The ones who cannot get relief?  The ones who pay their bills...  

http://money.cnn.com/2009/02/08/news/economy/fannie_freddie_rescue.reut/index.htm?postversion=2009020907

[MountainMeg]

Dang!  I knew being so dang responsible and actually paying all my bills on time would come back to haunt me!  What was I thinking...   

[liberty404]

It's worse than you know, Meg.  When it comes time to fund this program they will be looking for untapped revenue.  If they can modify mortgages after the fact to reduce the payments of some people, why could they not increase the obligations of those who made all their payments on time.  The authority to unilaterally breach a contract after the fact is a sword with two edges.  And those people that made all their payments obviously were not hurting - so . . . maybe a 10% 'mortgage payment surcharge' to fund the relief to the improvident.

[MountainMeg]

**SHHHHHHHHH!**  Don't give them any ideas!     And here I was all smug about my low fixed rate loan...

[Mike]

Is it,....
or should it be the government's role to adjust mortgages and contracts; to subsidize some, and tax others?