|
Mike Huckabee has expressed support for freezing interest rates on some subprime mortgages and further negotiations with subprime lenders to expand the "Hope Now" program, but opposes a federal bailout of borrowers and lenders who got into this mess.
Huckabee's problems with the freeze plan:
- Huckabee warned that if freezing teaser rates on some adjustable-rate mortgages keeps banks from foreclosing on those houses, it could result in "a chilling effect on the lending industry, because who's going to want to lend money if they don't have the capacity to get their asset back if there's a default on the loan."
- The former Arkansas governor opposes additional federal intervention, as well as passing new predatory lending legislation.
No voting record on subprime issues is available.
|
"People took some bad loans they shouldn't have taken. Lenders made some loans they shouldn't have done. It has to work itself out."
