Bush FREEZES rates ... NOT

Well,
This "freeze interest rate plan" is to make it look like Bush is doing something, when instead all he does, is getting hopes up for some ... and then crush them.
Let's take a closer look at the conditions that will get you eligible for the magic interest rate freeze:

* Mortgage had to be issued between January 2005 and July 2007

* ARM must reset January 2008 to July 2010

* You must not have more than 3% equity in your home (Oh, my... if you put money down on your home, no interest rate freeze for you!)

* Home must be worth more than the mortgage (LOL)

* You must have income

* You must prove that you can make the payments

* You must not be more than 60 days past due

* Program is voluntary with the lenders - government has no authority or legal status


It is clear and obvious that not a single home bought between '05 - '07 in the USA fits these criteria!

Way to go.