The Real Deal New York

Joining the ranks of those who oppose Treasury Secretary Henry Paulson’s plan to freeze rates on subprime adjustable-rate mortgages are homeowners who did not overextend themselves on home loans. Some say the government should not step in and perpetuate a housing bubble that needs to deflate; even some subprime borrowers say they need to clean up their own mess. The plan may not help subprime mortgage holders who can afford the higher payments, and it may not help those who can’t make their payments even at current rates.