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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (283032)	12/4/2008 7:48:17 PM
From: KyrosL	Read Replies (2) \| Respond to of 793903

Not really. In the land of the free a "fixed" mortgage is not really fixed, if the bank that issued it is willing to renegotiate a different rate, provided the borrower pays appropriate fees. Nobody forces the bank or borrower to renegotiate. The USSR way is to not allow fixed mortgage modifications, even if the parties are willing to modify. Or not have fixed mortgages at all, via government edict. The mortgage market in the US is by far the freest in the world. Actually, way too free ...