Govt. Tries to Stop Foreclosures


	Govt. Tries to Stop Foreclosures

muckdog

11-6-2008 12:25 AM

170 views

tags:

real estate, foreclosures, mortgage, government, bailout

muckdog says:

It's a crazy world we live in. All because folks who couldn't afford homes were able to buy homes and bid the prices up due to funky loan schemes.

CRAZY in retrospect, eh?

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/553d1a88-63e8-476c-904e-f477e73ecc35/C706F83C-74DC-40E3-8536-2325AC287A4B/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://calculatedrisk.blogspot.com/2008/11/wsj-treasury-and-fdic-close-to.html" href="http://calculatedrisk.blogspot.com/2008/11/wsj-treasury-and-fdic-close-to.html" style="font-size: 11px;">calculatedrisk.blogspot.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://calculatedrisk.blogspot.com/2008/11/wsj-treasury-and-fdic-close-to.html"><P>This <A href="http://online.wsj.com/article/SB122593207136003391.html">WSJ story</A> on possible additional options for using the TARP suggests that a mortgage modification program will be announced soon: </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://calculatedrisk.blogspot.com/2008/11/wsj-treasury-and-fdic-close-to.html"><BLOCKQUOTE>The report addresses the issue of trying to slow the record levels of foreclosures. "In particular, Treasury will continue efforts to ensure loan modifications are sustainable," said the report. A separate Treasury report detailing minutes of an Oct. 13 meeting of members of the Financial Stability Oversight Board suggested the Treasury is focusing on how to address ailing mortgages.<BR />...<BR />[T]he Treasury, the Federal Deposit Insurance Corp. and other government agencies are said to be close to announcing a government program to address residential foreclosures at the root of the crisis.</BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://calculatedrisk.blogspot.com/2008/11/wsj-treasury-and-fdic-close-to.html"> Meanwhile, in California, Governor Schwarzenegger is seeking a 90 day delay on foreclosures - from Bloomberg: <A href="http://www.bloomberg.com/apps/news?pid=20601103&sid=a1am4TgdG2OQ">Schwarzenegger Seeks to Save Homeowners With Foreclosure Delay</A></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/C706F83C-74DC-40E3-8536-2325AC287A4B/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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