Real estate blog entries tagged with congress reaches agreement on federal govenment bail out for wall street mortgage loan crisis by Illinois Financial Advisor Greg Zaccagni (Farmers Insurance)

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Home : Blogs : Illinois Financial Advisor Greg Zaccagni : Greg 's Blog : Tag "congress reaches agreement on federal govenment bail out for wall street mortgage loan crisis"

congress reaches agreement on federal govenment bail out for wall street mortgage loan crisis: Deal finally Reached for Mortgage Bailout of Wall Street? - 09/28/08 09:14 AM

The plan calls for the Treasury Department to buy deeply distressed mortgage-backed securities and other bad debts held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price.
Some of the program's $700 billion would be devoted to a program that would encourage holders of distressed mortgage-backed securities to keep them and buy government insurance to cover defaults.
The proposed legislation also calls for the financial sector to help make up the difference if the government … (0 comments)

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Illinois Financial Advisor Greg Zaccagni

Wheaton, IL

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