oleeb's picture

    McCain's home mortgage relief plan

    It really stuck out to me in last night's debate that McCain was calling for mortgage relief by lowering the value of homes to current value vs maintaining the original mortgage amounts when people get in touble on their mortgages.  He didn't detail how it would be done, but I find it interesting that McCain now supports this when last week the Republicans blocked any such effort in the bailout bill.  Furthermore, I seem to recall McCain being quoted back in February or so saying he didn't think it as the Federal government's reponsibility to bail out people who took out mortgages they couldn't pay so there's some seriously flip-floppery going on with this issue.

    But the bottom line is that this is one of the only substantive measures that's been discussed of providing relief to average people and that was option rejected last week by the congressional Republicans (including McCain) to readjust mortgage values so people don't lose their homes and with that option being endorsed this week by McCain it seems to me Democrats should be ballyhooing both his position to highlight the hypocrisy and to get more Republicans on record supporting such a measure which will actually help real citizens weather this financial catastrophe brought on by Republican policies.

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