It's a problem that isn't going away. We need some quick action before the entire housing infrastructure crumbles completely. That's a scenario from which it could be difficult for our economy to recover. And, then, what do we do? Live in tents? Paper boxes?
This is a good approach, and echoes what I've suggested in the past. It won't help everyone who's about to experience a foreclosure - and nor should it - but it should stabilize things for those who have a reasonable chance of covering their mortgage if it doesn't have insane rates. "THERE have been many proposals to deal with the problems in the mortgage market. But the best place to begin is by looking at the poor lending standards and weak consumer protections at the root of the problem — in particular, [...]
Tags: Housing Industry, Foreclosures, ARM's
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