BBC posted a clip from their news show on the new homeless in America, forced to lose their homes by the subprime crisis. An interesting five minute clip which shows tent cities which had sprung up in certain parts of the US where many home owners were forced out of their houses, unable to pay [...]
Entries from March 2008
BBC Video on the ‘New’ Homeless
March 16th, 2008 · No Comments
Tags: Foreclosure Information · Foreclosure Statistics
New Mortgage Rules Proposed
March 13th, 2008 · No Comments
Today nation’s top economic policymakers, hoping to prevent a further mortgage bust, proposed a broad series of reforms aimed at tightening oversight of financial institutions.
The changes include
Tougher disclosure requirements for banks and Wall Street firms
A nationwide licensing system for mortgage brokers
New rules for credit rating agencies
“This effort is not about finding excuses or scapegoats,” said [...]
Tags: Foreclosure Information · Mortgage Legislation
Spitzer’s Mortgage Relief Plan in Jeopardy
March 13th, 2008 · No Comments
Just a few days ago, before resigning yesterday Gov. Eliot Spitzer drafted a proposal to offer protection to homeowners who may be at risk of losing their house due to the subprime mortgage crisis.
The legislation comes with several provisions including mandatory pre-foreclosure notice and consent conferences between borrowers and lenders. Spitzer also wanted to strengthen [...]
