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  • Comment Detail

  • Date: 05/13/24
    First Name: Douglas
    Last Name: Chorna
    Organization: Cayuga Derivatives, Inc.
    City: Delray Beach
    State: N/A
    Attachment: N/A
    Number: 2024-N-5

  • Comment

    This would be a repeat of the over expansion of credit which led to the 2008 Financial Crisis
    and runs counter to the FED's current attempts to slow inflation AND does nothing to unfreeze the
    existing home market (due to low interest rate first mortgages) In fact, it makes the freeze worse.....
    homeowners will never leave.

    The smarter approach would be to make existing 1st mortgages assumable by new home buyers,
    at an interest rate that is the average of the rate on the existing mortgage and the current mortgage rate.
    Everyone wins.....Freddie, Fannie get a higher coupon on existing mortgages, the home seller can now
    sell because the buyer get a better interest rate, and the buyer can afford to buy.