tag:blogger.com,1999:blog-9453798.post-24548539122576282692007-12-10T13:44:00.000-05:002007-12-10T13:44:00.000-05:00This is exactly, exactly right!<BR/><BR/>It doesn't really matter what your rate is, if your income drops in half or is eliminated completely. And the majority of foreclosures that I come across is due to these top three reasons, with very few ever claiming that a higher payment is the direct cause of foreclosure.<BR/><BR/>If anything, a rate increase will contribute to the homeowners falling behind faster if their income decreases due to job loss, medical expenses, divorce, death, etc. But few foreclosure victims are that blindsided with a rate increase which directly leads to foreclosure.<BR/><BR/>Freezing rates and demonizing subprime lenders makes for a good press release, but it won't help actual homeowners.ForeclosureFishhttp://www.blogger.com/profile/16621833953782220618noreply@blogger.com