New Mortgage Stimulus Package

I am getting on my soapbox RIGHT NOW! If you read the stimulus package approved by Obama today you must be shaking your head......what is this all about? The Homeowner Affordability and Stability Plan......I would like to know who in the world was advising the group that approved this...First of all the rate is reduced for only FIVE years and then goes back up after the initial 5 years to the current markets rate.......even if the rate is reduced for NOW and the loan to value is above 80%...HELLO!!!! Will Fannie Mae & Freddie Mac WAIVE the MORTGAGE INSURANCE requirement? If they don't the payment WILL NOT go down! It will stay the same or GO UP! If they waive the MI..I guess we won't know that until March 4Th...(nothing is mentioned about values above 80% REQUIRING MI in today's stuff..no one mentioned this expensive little tidbit)...What about all the other AMERICANS who are paying MI??? Will they waive the MI on those loans? If you notice while reading they talk about "sub prime" loans....most of these were set up as "Option Arms". These people bought homes they could NOT afford! Yes their payment is going up or has gone up...they knew this when they bought their house....they signed a paper...it is in BOLD writing.....YOU'RE PAYMENT WILL GO UP TO______in 2, 3 or 5 years! (it shows an amount 2 to 3 times the initial start payment)they have to initial and sign in several places...the lender MUST disclose the new payment! This is a temporary fix heading for disaster!