Last week’s White House plan to freeze some adjustable mortgages to slow the rising pace of foreclosures seem to raise as many reader questions as it answered. There’s a lot of confusion about just who is covered and who isn’t. And many readers are wondering: Just what’s all this going to cost?What does President Bush's plan to freeze interest rates on (adjustable rate mortgages) mean for those of us consumers that have conventional mortgages with fixed rates?
— Alan H. Brainerd, Minn.
Homeowners with conventional fixed rate mortgages would not be affected directly by the plan announced last week.
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