White House to Veto Foreclosure Bill: Democrats & Republicans at odds over proposed provisions - 02/26/08 05:53 PM
White House to Veto Foreclosure Bill
Democrats & Republicans at odds over proposed provisions
The White House has promised to veto a bill that would come on the heels of the recently approved economic stimulus package. This new bill would add provisions that are supposedly aimed at helping homeowners who are heading towards foreclosure.
The to be proposed Democratic housing bill would change bankruptcy laws to allow judges to cut interest rates and reduce what's owed on troubled homeowners mortgages, providing $4 billion to communities to purchase rehabilitated foreclosed homes, and improve the disclosure of subprime mortgage loans in hopes that borrowers will not … (8 comments)

Project Lifeline Broadened: All 25 Members of Hope Now Alliance Join Foreclosure Pause - 02/21/08 05:05 PM
Project Lifeline Broadened
All 25 Members of Hope Now Alliance Join Foreclosure Pause
            Six of the major mortgage servicers that are part of the Hope Now alliance announced last week that they would be offering a temporary pause in foreclosure proceedings to homeowners who appear that they would be able to enter into loan modification agreements. This week the remaining 19 members of the Hope Now alliance have agreed to embrace the same guidelines in a program that is being called Project Lifeline.
The program is designed  to give homeowners who are three or months behind in their mortgage payments 30 additional … (0 comments)

Economic Stimulus Package To Be Signed Into Law: How it will affect Freddie, Fannie & You - 02/12/08 06:09 PM
Economic Stimulus Package To Be Signed Into Law
How will it affect Freddie, Fannie, FHA & You
            President Bush is set to sign a $152 billion economic stimulus package into law this week. The bill will provide tax rebates of $600 for individuals (earning under $75,000) or $1,200 for couples (earning under $150,000), plus $300 for each child. Lower income people, including retirees on Social Security and disabled veterans who pay no income taxes, would receive checks of $300.
            Also included in the bill and of more importance in regards to the real estate market are temporary raises to the conforming loan … (3 comments)

 

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