Help for freddie and fannie..

I see that the Federal Government has finally decided to help out struggling homeowners with their high-rate adjustable mortgages. I believe this is what should have been done to start with, specifically with the TARP money, as well as the stimulus package recently passed. Stemming the tides of foreclosures is a BIG step in the right direction. People who qualify will be able to lower their payments and hopefully, keep their home.

We can get into a moral debate about whether these people bought too much of a house to start with and willingly signed paperwork stating that these rates and their payments could go up significantly. This mortgage relief program should help stabilize falling home prices, which would help speed the recovery of the real estate market.

What are your thoughts?