More Help for Homeowners

POINCIANA (PHN) | In part I of this article, a response was provided for the question, "Why government should help homeowners?" and laid the foundation for why the subprime fiasco is the responsibility of government, all government. Following are just a few more reasons why government must help homeowners.

• Many homeowners, especially Hispanics and non-English-speaking borrowers were given mortgage brokers' nod-nod, wink-wink at signing understanding that "interest rates would never go that high."
• Many homeowners are now plagued with even more predators ever before, such as realtors offering to "Save Them" from foreclosure.
• In 2007, homeowners typically held net worth's averaging over $180,000 - versus $4,000 for the typical renter.
• Mortgage underwriters have little to no incentive to sell their increasing inventories of single family homes.
• Lenders and investors are business entities; homeowners are human.

Need more reasons? Go to The Poinciana Crane^TM local blog.

La Caballera de Poinciana^TM blog en español.