The government continues to try to get housing back on track with the passing of the "Helping Families Save Their Homes Act." This bill is designed to make it easier for homeowners to modify or refinance their mortgages and stay in their homes so the number of foreclosures is reduced. Foreclosures eventually lower everyones property values.
The bill also gives homeowners the right to know who owns their mortgage. Something that is often difficult to find out. Tenants will be happy as well with this new bill which now requires the banks to honor their current lease or give them 90 days to vacate.
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