• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Dodd, Frank Urge More U.S. Aid to Stem Foreclosures

Status
Not open for further replies.

moh malekpour

Thread Starter
Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
http://www.bloomberg.com/apps/news?pid=20601087&sid=av36.d1cMJKA&refer=home
$300 Billion in Guarantees

Frank's plan would have FHA provide as much as $300 billion in guarantees to help refinance loans for borrowers at risk of foreclosure. Participating lenders or mortgage holders would reduce principal in exchange for a payment from the proceeds of a new FHA loan. The plan could help 1 million to 2 million borrowers, according to a draft of the bill.

Robert Steel U.S. Treasury's undersecretary for domestic finance, declined to rule out Frank's plan.

``I haven't seen the details of Chairman Frank's proposal, but we're focused on homeowners,'' he said in an interview. His remark seemed to signal a more conciliatory stance compared with Treasury Secretary Henry Paulson's March 5 remark that any proposal using taxpayer money was a ``non-starter.''
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks