White House to help Mortgage Mess

The treasury is set to unveil plans to help with the current mortgage crisis by freezing interest rates at the lower “starter” rates for 5 years on some loans. Adjustable rate loans are about to reset, and many borrowers are about to find out that they can no longer afford the payments on their home. To help with this impending doom, President Bush is expected to announce the plan today.

With so many borrowers owing more on their home than it is worth, there is a huge risk of foreclosures. Adding to this burden with a re-adjusted ARM is enough to send many over the edge.

Read the full article by clicking here!


What'cha Say?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s