There's been a lot of criticism of the Obama administration's handling of the housing finance issue, but this blogger at least is proud to announce that he just this morning closed on a mortgage refinancing courtesy of the Home Affordable Refinance Program. The terms of this initiative are too stringent to assist anyone in really dire straights. You need a loan-to-value ratio of over 80% and you need to be current on your mortgage payments. But if you fit the terms, as I did, a little refinancing can put some extra money in your pocket each month.
Since the point of all this isn't just to do me a personal favor but to boost the overall American economy, I hereby solemnly swear to use the extra money exclusively on things that will increase the marginal product of capital thus boosting the natural rate of interest.
TODAY IN SLATE
Here’s Where We Stand With Ebola
Even experienced international disaster responders are shocked at how bad it’s gotten.
It’s Not Easy for Me, but I Stand With Emma Watson on Women’s Rights
Divestment Is Fine but Mostly Symbolic. There’s a Better Way for Universities to Fight Climate Change.
Subprime Loans Are Back
And believe it or not, that’s a good thing.
It Is Very Stupid to Compare Hope Solo to Ray Rice
In Defense of HR
Startups and small businesses shouldn’t skip over a human resources department.