Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
This Clinton Campaign ad is running in MO. Is it running anywhere else? If so, please specify the state.?
A television ad showed up this week in which Clinton promises to "freeze foreclosures" and "lower mortgage interest rates." Has anyone else seen this? I live in mid-Missouri and can't figure out if she just thinks we are stupid here, or if she thinks people are stupid everywhere. And why would she promise something so blatantly false? She knows as well as we do that the government can't interject themselves in these private contracts.
Of course, those of you who point out that goverment can impose regulations are entirely correct, however, a mortgage is a private contract between a financier and a borrower. The government regulates certain aspects of the contract, yet, in the end, both parties sign and the house belongs to the financier until the mortgage is paid off. If you don't pay, they take the house under breach of contract. The government can't tell them not to.
busybee2--The federal reserve sets the interest rates.
8 Answers
- Anonymous1 decade agoFavorite Answer
You are right. The government can't control the interest rate on a loan or the possibility of foreclosure when the terms (payments) are not met. A mortgage loan is a private contract between the lender and the borrower. Of course Clinton, being a lawyer knows that but would lie about it anyway.
As for interest rate, the prime rate is set by the federal reserve not by the president or congress, a fact I'm sure she is aware of.
Yes it does seem that she thinks the electorate is stupid.
- busybee2Lv 51 decade ago
do some research instead of believing republican lies. How so you think interest rates are set? Haven't you paid any attention tothe ongoing foreclosure debates?
Just because we are from Mid-Mo doesn't mean we have to be ill-informed and believe the lies of the extremist religious right...
democrats really don't want to take away your guns, make it illegal to pray and rip the babies out of your woman's womb....(yes I heard that after the last election in the Casey's as the reason why they voted for blunt trauma and bush league tactics).
ETA: not exactly...here this will help: http://library.hsh.com/read_article-hsh.asp?row_id...
the Fed raises or lowers interest rates to help address increases or decreases in economic activity...and where do you think controls the economy?...in a large part the people appointed by the president to different cabinent positions...ergo..the President.
- thor_torkensonLv 51 decade ago
The only political ads running in Minnesota so far are from Al Frankin. They've convinced me not to vote for that carpetbagger.
- 1 decade ago
One thing you need to understand: a Clinton will say ANYTHING or do ANYTHING to get elected or avoid a problem. Once you understand this simple fact, you'll understand the Clintons.
- CristalLv 51 decade ago
actually, the govt can do that..
that was changed when the last depression happened.. to help protect people.
