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Is It Time For A Modern Home Owners Loan Corporation?

February 15, 2009

A common sense proposal to stem the tide of loan defaults and foreclosures
includes creating a new federal corporation to purchase distressed mortgages from investors and convert them to 30-year fixed-rate mortgages.
 
After the Depression the main causes were a contracting economy and
falling price levels. Today, the  mortgage distress is mainly caused by
questionable mortgage practices by borrowers and lenders.  Individuals took shaky loans that they could not afford, and lenders were granting those shaky loans.

How does it work?  http://www.answers.com/topic/home-owners-loan-corporation

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One Comment leave one →
  1. Phil permalink
    February 26, 2009 10:27 am

    If you are having difficulty paying your interest rate and are concerned about possible foreclosure, visit http://advocateforyourhome.net/. Are professionals specializes not only in forensic loan audits, but loan modifications as well. Let us negotiate with your bank to find the best interest rate for you.

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