Ya sure! and this is going to save the whole subprime market. LOL
Read the article carefully, before you post it. First, it is for the people who live in their homes and they have to qualify for their loans. Most of these people are speculators and people who have already walked away from the properties. Second, How does this save the home builders. Actually it doesn't do anything for them. Third, the housing boom is over and it was bloated by the 1% Federal fund rates that stayed low and cheap financing, those days are over and it will never go there or even remotely close to it. Finally, The housing crash will be seen and the pain will be felt in 2008. Prices haven't even dropped yet. Watch and see 20 to 40% price drops in some major housing markets. The home builders like Lennar will be either bankrupt or on the brink of bankruptcy by end of 2008. Just watch for the earnings report next quarter and all their losses. Now buy more! You are a fool.