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Program Failed to Contain Foreclosed Homes in First 6 Months
The report that over 300,000 foreclosure notices were filed in June showed that the federal program crafted to contain foreclosed homes has not been progressing as planned. Almost 15 percent of all homeowners in... Obama Considering Foreclosed Home Prevention Aid
The Obama administration is considering at least two options to help more homeowners under its foreclosed home prevention program. The options include loan forbearance and rental agreement. " Because of continued pressure on the Obama administration to step up its foreclosed...Will Allowing Banks to Fail Reduce Foreclosure Homes?
Allow banks to fail. That is what Republican Senators Richard Shelby of Alabama and John McCain of Arizona suggested even if it means shareholders will also suffer as a consequence. " Allowing some big troubled banks to close and funneling the relief funds to the housing...Banking Committee Chair Dodd Considers Bill to Help Homeowners...
The Senate Banking Committee, chaired by Christopher Dodd, is preparing a financial regulatory reform legislation to be released by April 2009, the deadline requested by President Barack Obama. " Already, Dodd plans to schedule hearings for several months where he expects to...Treasury Looks Into More Anti-Foreclosure Strategies
The Treasury Department seems unsatisfied with The Federal Deposit Insurance Corporation’s $ 24.4 billion plan to modify mortgage loans in an effort to stem the foreclosure crisis. Instead, Treasury Interim...Neighborhoods Can Prevent Foreclosures from Affecting Community
As the problems in the housing industry continue to trample on the nation’s economy, there is an increasing number of communities that are becoming affected by the large inventories of foreclosure homes. With a...
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