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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (87727)8/31/2007 12:53:24 AM
From: Les HRead Replies (2) of 306849
 
Bush to Offer Proposals To Ease Mortgage Crisis

washingtonpost.com

The following condition probably doesn't help those many of the loans in 2005 and 2006 that were experiencing a high level of early payment defaults:

"They need to have had a good payment history up to the point of the reset," said a senior administration official, who spoke on the condition of anonymity because the plan had not been announced. The official estimated that the change would allow 80,000 more homeowners to receive federally insured mortgages in 2008 on top of the 160,000 already projected to use the program.
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