housing relief: Senate makes headway on housing fix
- 04/07/08 03:49 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)
housing relief: Housing Relief Bill - HR 3609 Blocked!
- 03/03/08 03:20 AM
A follow up to last weeks post: HR 3609 - 5 Things You Need To Know About The Senate's Mortgage Fix Senate Republicans blocked consideration of HR 3609. The bill is designed to help the struggling housing industry but contains provisions that are perceived to hurt lenders and further provoke the current mortgage mess. The provision known by opponents as the "Cram Down", that would allow bankruptcy judges to adjust the terms of distressed homeowners mortgage, has been at the center of the debate. Democrats argue that unlike the Stimulus Package this would help distressed homeowners now instead of waiting for the stimulus … (0 comments)
Senate makes headway on housing fix;)
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