In an interview with the Las Vegas Review Journal, Mitt Romney spoke out against stopping the large number of home foreclosures.
“As to what to do for the housing industry specifically — and are there things that you can do to encourage housing? One is, don’t try and stop the foreclosure process,” said Romney. “Let it run its course, and hit the bottom, allow investors to buy up homes, put renters in them, fix the homes up, and let it turn around and come back up.
“The Obama administration has slow-walked the foreclosure process that long existed, and as a result we still have a foreclosure overhang.”
He also added: “I think the idea of helping people refinance homes to stay in them is one that’s worth further consideration. But I’m not signing on until I find out who’s gonna pay, and who’s gonna get bailed out. And that’s not something that we know all the answers to yet.”
