And apparently, it isn’t the government’s problem, either.
Those who feared the worst with TARP now get to watch it play out in slow-motion as our government attempts to “fairly” untangle the labyrinth that created the housing mess in the first place.
Due to it’s (what else?) “complexity”, “tough” eligibility restrictions, and the possibility of lawsuits as mortgage investors fear losses from servicers willing to “downgrade” and lock in payment terms when foreclosure would be more profitable, there will be delays and it is expected some needy homeowners facing foreclosure won’t receive help.
So how’s that hope working for you, anyway?