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What About The Stimulus Package?

by Peter G. Miller
February 6th, 2008

Eleanor Thorne says the President took changes for FHA mortgages out of the stimulus package.

However, she likes the idea of the stimulus package and says “FHA Reform is necessary for tens of thousands of Americans who no longer qualify for Conventional Financing, and who are interested in HELPING the ECONOMY by purchasing one of the millions of homes now on the market. The Stimulus package incredibly offered to include this legislation, but the President took that option off the table this week. FHA REFORM would be quickly passed if they would include it in the Stimulus package – AND this would actually create a STIMULUS!”

Allow me to offer a different view.

First, the “stimulus package” is nothing more than additional federal debt, something which is hardly a positive.

Second, the package is small relative to the massive size of the U.S. economy, thus it may not do much — if anything.

Third, stimulating the economy at this time may not be wise if the end result is the encouragement of inflation and higher mortgage interest rates.

How about you? What do you think? Feel free to post your view.

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This entry was posted on Wednesday, February 6th, 2008 at 3:08 pm and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

4 Responses to “What About The Stimulus Package?”

  1. Edward Norman Says:

    When will the FHA limits be increased?

  2. Steve Says:

    Hello – I have been unemployed for a year now – I have never missed a mortgage payment to date and March 9th 2009 I will reapply for unemployment due to my anniversary date. I am in the computer consulting and support industry and nobody seems to be hiring – either your overqualified or under qualified. The credit union will not refinance my mortgage because I have no true income – how can someone like me take advantage of this 2% program to lower my payments – how does this package affect unemployed people ? – thanks for your time as time for me is running out.

    Steve

  3. Ron Says:

    Like so many Americans, I also had to take a severe pay-cut in my job in order to hold a job. I have managed to keep up ith themortgage payments but not without my struggles. Well just recently, my mortgage company sold my mortgage and my payments went up withuot notice. Ouch!!

  4. Jay Says:

    The only way ANY of this will “work”: ANY and ALL purchases will need to receive a ___% discount at check-out. There can be no evidence of price raising or gouging once this has been decreed.

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