Question About The Treasury Dept’s Efforts To Freeze Adjustable Mortgage Rates?
I do not understand why the Treasury Department has to step in to negotiate the freezing of mortgages rates.
Why cant the banks/mortgage companies use their own discretion by doing it themselves?
You would think it would make good business sense to freeze the rate and having a mortgagee continuing paying the mortgage than having the loan forclosed altogether…
An explanation to why these companies are not already doing this would be helpful. Thanks.
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