About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
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Not everyone in the country is thrilled with the new plans by the government to help provide morgage relief to homeowners. (The good news for struggling homeowners is that opinions like this cannot stop us from helping you out!) Here is an opinion piece in the Wall Street Journal on the subject:

Saturday, September 22, 2007 12:01 a.m. EDT

This week the House of Representatives overwhelmingly approved a plan to erase billions of dollars of subprime loan defaults in the private mortgage industry. How? By making taxpayers responsible for future losses.

The Bush Administration recently announced support for a similar plan, and the housing industry is in full lobbying mode. One of the lone skeptics is Alabama Senator Richard Shelby, who warns that this could be one of the most expensive federal bailouts since the savings and loan crisis of the late 1980s. He’s on to something.

Comments (0) Posted by G.R.A. Admin on Monday, September 24th, 2007


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