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foreclosure: Senate makes headway on housing fix - 04/07/08 10:49 AM
Senate makes headway on housing fix
I know, I know.. another boring post about politics! I am sorry, this stuff intrigues me:
Last Thursday the Senate began debate on a $15 billion bipartisan housing relief package. Democrat and Republican lawmakers have been facing "election year pressure" to respond to the foreclosure crisis. The package could get a final vote this week.
There is a need for haste as housing experts agree the bill must be signed into law by July to prevent a substantial number of foreclosures in 2008.  1.5 Million  subprime ARMs will reset this year with May and July being the peak … (1 comments)

foreclosure: How the foreclosure crisis could be fixed - 02/04/08 07:09 AM
Two million homeowners are at risk of losing their homes to foreclosure this year. John H. Vogel, a professor of real estate at the Tuck School of Business at Dartmouth, explains who these people are and why we need to help. Vogel also gives a glimpse at possible solutions to the foreclosure crisis. His plan involves "sharing the pain" among lenders and borrowers with a "Last Chance Mortgage Pool" that give borrowers nearing foreclosure a 3% interest rate but does not allow them to gain appreciated value. In homes that have depreciated in value the current lender would only receive the … (0 comments)

 

Chris Breck, Advantage Title Company

Baltimore, MD

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