Washington Report: Expectations for Housing, an article from Realty Times, examines what we can expect in terms of housing and mortgage-related moves with a new president and Congress running Washington. At the top of the list is foreclosure relief. Barney Frank, the House Financial Services committee chairman, expects Congress and President Obama to devote as much as $100 billion of the bailout money to help homeowners facing foreclosure. Second on the priority list is legislation allowing bankruptcy judges to prevent foreclosures by reducing monthly payments, interest rates and principal balance for owners who file bankruptcy. The third item on the list involves a return to last year's higher mortgage limits for high-cost areas around the country. During the early months of the new Congress, you can also expect to see passage of long-stalled anti-predatory lending legislation. Later on, the Obama administration is expected to address reforms for the federal financial regulatory agencies and decide what to do with Fannie Mae and Freddie Mac.
http://realtytimes.com/rtpages/20090126_washingtonreport.htm
http://realtytimes.com/rtpages/20090126_washingtonreport.htm
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