Sallie asked:
I just heard this (if I heard correct) on the radio news while washing my dishes. The news said to stop all the foreclosures that are happening now and to save the market from collapsing. Anyone else knows more about this. I think I heard President Bush wants to make this happen. Another question; is it only for the people that are facing bankrupcy or is this open to all homeowner’s?
GRAHAM
I just heard this (if I heard correct) on the radio news while washing my dishes. The news said to stop all the foreclosures that are happening now and to save the market from collapsing. Anyone else knows more about this. I think I heard President Bush wants to make this happen. Another question; is it only for the people that are facing bankrupcy or is this open to all homeowner’s?
GRAHAM
JEFFREY
Not exactly. President Bush suggesting loosening the FHA guidelines so more people with subprime credit could qualify. You’ll still need to qualify for the loan based on your credit, income, assets, home value, etc.
Comment by Digger — February 4, 2009 @ 4:20 pm
ERIK
bush is creating yet ANOTHER governmen entity.
so much for “limited government” and less spending.
Comment by Shelly P — February 6, 2009 @ 12:56 am
MAURICIO
I think it’s for the sub-prime mortgage owners. Possibly the adjustable rate mortgage owners as well.
Comment by hopeful for change — February 6, 2009 @ 4:46 pm