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Protecting Homeowners - Sustaining Home Ownership

The Most recent data indicates about 20% of subprime adjustable rate mortgages were ninety or more days delinquent as of November 2007, twice that of November 2006. Foreclosure were reported up 36% from 3rd quarter 2007.

Experts attribute foreclosure problems to abusive lending practices. The American Securitization Forum (ASF) and the Hope Now Alliance are leading the initiative to streamline the process for refinancing and modifying subprime adjustable rate mortgages. These groups have are proposing different solutions to bail out the mortgage industry such as issuing stricter regulations prohibiting abusive and deceptive practices in the mortgage market under the Home Ownership and Equity Protection Act (HOEPA).

For More information on the Current Mortgage Crisis and pending Proposals for Corrective Action, visit

Protecting Homeowners and Sustaining Home Ownership
Governor Randall S. Kroszner

Dallas Fort Worth Real Estate
Dallas Real Estate

Posted by DFW Urban Realty on 02/05/2008 10:40 AM

Comments (2)

home ownership, hoepa, american securitization forum, subprime lending, subprime market

This post has been included in Texas Information Dallas County, TX Information Dallas, TX Information

2 Comments on Protecting Homeowners - Sustaining Home Ownership

FEB

2008

Interesting info-thanks.

I think the lenders should be forced to take the past due and put it on the back end without qualifying to give people a little more time to get caught up. Then they keep their money and yet homeowners are given a little help.

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DFW Urban Realty

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