Following up on yesterday’s post today president George Bush and the two highest economic officials in the US government all objected strongly today to plans in Congress for changing bankruptcy laws to protect homeowners caught up in the mortgage meltdown. The idea of allowing bankruptcy judges to restructure loans ‘wouldn’t be fair to millions who [...]
Entries from February 2008
White House Opposes Bankrupty as Protection from Foreclosure
February 28th, 2008 · No Comments
Tags: Foreclosure Information · Mortgage Legislation
US Frees Fannie Mae and Freddie Mac; Democrats Move to Prevent Foreclosure via Bankruptcy
February 27th, 2008 · 1 Comment
United States regulators have ripped up longstanding restrictions on the government-sponsored mortgage companies Fannie Mae and Freddie Mac, freeing them to buy significantly more mortgages and potentially to reinvigorate the secondary market for mortgage debt. At the same time, Senate Democrats have introduced a bill that includes a controversial provision to the mortgage banking industry [...]
Tags: Avoiding Foreclosure · Mortgage Legislation · Mortgage Notes
Foreclosure Aid Rising Locally and So is Opposition
February 25th, 2008 · No Comments
The NY Times has a great article about local governments across the country that have been lending money to imperiled homeowners and confronting some opposition by folks who do not want to see anything that resembles a bailout or tax money going to rescue homeowners.
Some of these municipal and state efforts have met resistance from [...]
