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U.S. lawmakers set to write a new mortgage bailout program

Shared by Niicss on Thu Apr 24, 2008 7:07 am
A panel of U.S.A House of Representative outlines a new federal bill which can buy 300 billion dollars troubled home loans. It will aid the Federal Housing Authority to catch mortgages which are heading towards foreclosure. This bill will allow the FHA to invest 300 billions dollars of home loan and of that 2 percent is expected to be lost. Source: http://www.reuters.com/article/telecomm/idUSN2234223620080424

Community Members Opinion

larry

Joined: 27 Jun 2007

Posts: 3322

474.67 Dollars($)

Posted: Fri Apr 25, 2008 1:58 am Post subject:

Hi Niicss, The Government and the FHA are taking so many staps so that we can get out of this credit crisis but nothing has worked. Hope this one will help us at least

Caron

Joined: 19 Jul 2005

Moderator
Posts: 1519
Location: florida

281.04 Dollars($)

Posted: Fri Apr 25, 2008 5:33 am Post subject:

Ok, so there's another mortgage baiulout program coming our way! well, it needs to be seen as to how much it can be applied to reduce the foreclosure crisis. But the thing is, a lot of intiatives have been taken and most of them haven't proved to me much helpful for those in extreme mortgage problems. So, can we expect the lawmakers this time to come up with something that willl work out and help people resolve mortgage problems. _________________ Mortgage Shopping made easy with booklet


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