The mortgage and economy seem to be front and center for the Presidential candidates these days. Here are some tidbits I found from the frontrunners’ websites regarding the mortgage situation and what they’d do about it.
- Barack Obama: Combat Mortgage Fraud and Subprime Loans; Create Fund to Help Homeowners Avoid Foreclosures; Create a Credit Card Rating System to Improve Disclosure; Establish a Credit Card Bill of Rights to Protect Consumers. (If you’re fired up for Obama, there’s a unity march in downtown Seattle this Saturday.)
- Hillary Clinton: Foreclosure Moratorium; Freeze Interest Rates; Require Accountability.
- John McCain: Cut Taxes; Cut Spending.
- Mit Romney: Cut Taxes; Cut Spending; Government Guarantees For Larger Loans; More Disclosure and Counseling for Consumers.
I’m curious what readers think about these candidates’ plans? In my opinion, the government’s job is to help consumers make decisions with as much info as possible but people who get irresponsible loans for flipping shouldn’t really get bailed out.