“The assistance would be available only to “deserving homeowners” with mortgages on their primary homes who would be able to afford the new terms, including those whose mortgages had adjustable rates that are resetting at unaffordable levels. Speculators and investors wouldn’t be eligible.Aides said his housing plan still differed from the Democratic proposal in important ways. Under the McCain plan, homeowners — not lenders — would apply to participate in the program. If lenders apply, they are likely to stick the government with the loans most likely to fail, said Douglas Holtz-Eakin, Sen. McCain’s chief economic adviser. If homeowners apply, the government is likely to wind up insuring a healthier mix of loans, he said.”
This is why we don’t want this guy as president. We would have NO party and stand for NOTHING. If americans want socialism, let the socialists party give it to them.
Just who are those Mr. McCain?? This S$$t is about to go overboard - Big Time. I can just imagine who the 'Deserving' Homeowners are, the usual suspects.