McCain Shocker – Proposes To Have Government Buy Mortgages And Modify Them

Did I hear Senator McCain correctly at the last debate? I think he is now proposing for the first time to have the government buy up $300 million in bad mortgage loans and rewrite them/modify them based on the current decreased market value. I doubt that this will happen but it did seem like a very un-Republican stance for him to take. It seemed to come out of nowhere and appears to be an attempt to appeal to middle class voters. For the moment, there appears to have been very little done to actually help homeowners. Chapter 13 remains the best option for many.