I was reading on CNN that Senator Chris Dodd, the committee chair, is working to create a Home Ownership Preservation Corporation, which would purchase mortgage securities that are backed by at-risk, subprime loans from lenders and investors.

This corporation would give these lenders and investors a better price for the securities than they would get if the properties backing them were put through foreclosure.

According to what I read, the fund might require $20 billion to $25 billion in seed money from taxpayers and, after that, it should self-fund.

I think getting this through is going to be a lot harder than some people think.   Are taxpayers going to jump on the bandwagon?

You can read the whole article here: http://money.cnn.com/2008/01/31/real_estate/subprime_bailout_proposal/index.htm?postversion=2008013117

 
Posted by Delete Acct on 02/01/2008 10:59 PM   Comments (2)  
Generate short URL

First Time Home Buyer FHA Home Loan
01/29/2008
share
Many first time home Home buyers do not have a large down payment for a new home. While many people think this may hold them back from home ownership not having a large down payment does not mean you cannot purchase a new home. FHA financing allows… more
Should I buy or rent?
01/21/2008
share
Should I buy or rent? The greatest advantage of owning your own home is that your monthly payments are no longer just a living expense but also an investment. As you continue to make payments each month, you'll build equity through a reduced… more
 
Eee

Delete Acct

International, INT

More about me…

delete acct

Office Phone: (123) 333-3333

Email Me



Links

Archives

RSS 2.0 Feed for this blog