Interest-rate freeze harms more than helps

Perspective: Responsible homeowners pay for neighbors' risky behavior

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Inman Connect New York | January 29 - February 1, 2019

The Bush Administration’s plan for lenders and loan servicers to freeze monthly mortgage payments for selected homeowners who aren’t able to afford the reset interest rates on their adjustable-rate mortgages is more about politics than governance and is likely to hurt more homeowners than it helps. Indeed, the plan seems to have been designed to benefit a relatively small group of people at the expense of both their neighbors and the broader economy that the plan is supposed to protect.