First off I do not want to see people lose their homes, but I am not willing to accept bad fiscal policy for people who made poor financial decisions.
Hillary said in the debate :
I think it’s imperative that we approach this mortgage crisis with the seriousness that it is presenting. There are 95,000 homes in foreclosure in California right now. I want a moratorium on foreclosures for 90 days so we can try to work out keeping people in their homes instead of having them lose their homes, and I want to freeze interest rates for five years.
Two glaring problems are the 90 day moratorium on foreclosures, and freezing interest rates.
The key to winning the election is winning over moderates.
A 90 day moratorium is a nice gesture but it still comes down to the fact if you can't afford your mortgage now, you probably can't afford it 90 days from now.
Freezing interest rates for 5 years will only extend the housing bust pain for 5 extra years.
Like anything else you buy, you have payments. I would love a 90 day moratorium on my car payment, my electric bill, and my gas bill.
As for the freezing interest rates, instead of using your credit card, people took out Home Equity Lines of Credit (HELOC) and many people used that HELOC as a credit card. Why can't I have an interest rate freeze for 5 years on my credit cards? I'm just thinking what other moderates are thinking.
As we come into Super Tuesday I believe Hillary Clinton has the right idea which millions of Democrats support. Unfortunately for any moderate that is on the fence about Barack or Hillary this 90 day moratorium is the biggest faux pas.
Moderates will not accept giving a 'free ride' for 90 days to someone who can't afford their mortgage, and that will make all the difference on Super Tuesday.