Do we trust the irresponsible to straighten up and fly right now that the credit party is over?
TARP refinancing loans will have the same effect as a foreclosure on "good" neighbors home values. The Obama Administration, because of their new policies promoting open and transparent government, must share the new lower home values that TARP mortgage refinancing applicants are now claiming when they attempt to refinance their homes. This public information will devalue the homes of neighbors who have done nothing wrong and are current in making mortgage payments. It could spur a race to the bottom because do we really trust our irresponsible neighbors, who bought too much home and didn't save, to not try and maximize their government funded TARP restructuring by severely devaluing their underwater homes?