Day after day, week after week, I am simply amazed at the level of stupidy in this country. Some "Experts" are now supporting EXTENDING and expanding Obama's Home Affordable Refinance Program by not asking for income verification or investigating if candidates can actually afford the homes they're living in or have their homes appraised. I'd love to read a single logical argument as to why this makes any sense at all. The more we slow down the process of real estate bottoming out, the longer we'll be in this depression/recession. "Zandi made additional suggestions, including proposing that Fannie and Freddie could forgo borrower income verification and detailed home appraisals to keep costs down. As of June, roughly 840,000 borrowers have refinanced their mortgages through HARP. However, RealtyTrac reports that about 16 million of the 40 million U.S. mortgages are underwater. According to CoreLogic, the number of mortgages that are 25% or more underwater is 4.6 million and the number that is 50% or more is 2.3 million. " Experts back expanding Obama mortgage refi effort - MarketWatch Yeah, let's allow unqualified borrowers to refinance mortgages on homes that should not be appraised...makes sense, huh? I guess doing what we did to get us in this mess is the right path to get us out of it! I just pray that we still have some politicians who upon hearing this proposal, asks the question, "Are you retarded?"