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mortgage walkaways: Senate Takes On Mortgage Walk-Away - Plainfield, Naperville IL. Real Estate - 06/02/08 10:21 AM
Recently came across this information thought some of you might find it interesting.
The Senate Banking Committee has just passed the Federal Housing Finance Regulatory Reform Act of 2008 by an overwhelming and bipartisan vote of 19-2.
Buried in the proposed legislation is something new and revolutionary, an effort to stop mortgage walk-aways.
Walk-aways arise when a borrower can no longer make monthly mortgage payments or sell the property. Rather than wait for foreclosure, the borrower simply sends the keys back to the lender. This is not a minor matter. Fitch Ratings reports that "the apparent willingness of borrowers to 'walk … (2 comments)

 
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Cheryl Bowers, Plainfield, Naperville, IL. Real Estate

Plainfield, IL

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Keller Williams Realty

Address: 608 S. Washington Street, Suite 100, Naperville, IL, 60540

Cell Phone: (630) 712-1921

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Plainfield, IL. Real Estate, Naperville Illinois Real Estate, Homes for sale

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