We’re seven weeks into the Obama Administration and still looking for a way out of both the banking and housing crises.  TARP didn’t seem to work, at least not as its designers intended.  The new housing plan hasn’t been well received and now that more details are out you’d think there would be an even more negative reaction, but the press doesn’t seem to have even noticed the details were released last week.

Had anyone actually read the press release they would have noticed the Obama plan is no longer limited to refinancing 105 percent of a home’s purchase price, but offers instead what’s essentially a 5/1 Adjustable Rate Mortgage for homeowners and […]