Romney says banking reform hurting housing market in Florida
More than four in 10 Florida homeowners are underwater on their mortgages. President Barack Obama has not done much to help them, and it doesn’t sound like Mitt Romney has any serious plan in store either. His main idea? Repeal Wall Street reform.
“Bankers have been very slow in renegotiating the mortgages, helping people go through the process, short sales and so forth that allow these products, these homes, to be taken out of the market so they can be bought by new investors,” Romney said in a Political Connections interview airing today on Bay News 9.
“Government has made it harder for the banks to do it. The Dodd-Frank (Wall Street) legislation has scared particularly community banks in such a way that they’re just paralyzed. They’re not taking action to help people get their mortgages renegotiated and let people either stay in their home or have the home ultimately go back in the hands of new investors that will turn it around and ultimately bring home values back up.”