| Saving the ranch: As foreclosures mount, help may be on the way - if ...
You're not alone.
That's the message from federal, state and local government agencies, as well as some area nonprofits, to homeowners facing the loss of their homes due to bank foreclosure.
Furthermore, say state and federal regulators, a host of bills that have been approved, or are in the pipeline, will end predatory lending.
Some in the industry, however, say what's been proposed won't do much to keep millions of homes - including thousands in Massachusetts and New Hampshire - from being seized for non-payment of mortgages.
The most recent effort to stem the tidal wave of foreclosures came Thursday, when the Bush administration announced its plan to freeze interest rates for five years for thousands of strapped homeowners whose mortgages were scheduled to rise in the coming months.
Bulls Take Charge Following Subprime Plan - U.S. Commentary []
12/6/2007 4:31:36 PM A federally sponsored plan to help subprime mortgage borrowers avoid foreclosure was the main focus of Thursday's trading session, sending stocks on a late-afternoon rally shortly after it was announced.
President Bush and Treasury Secretary Hank Paulson spoke today about a plan to freeze adjusted interest rates for a portion of subprime mortgage borrowers, in hopes this will stem the tide of foreclosures.
The markets rose sharply on the news, with sectors such as the housing, banking and brokerage sectors seeing the greatest strength. The gains extended a rally from Wednesday's session that saw the Dow rise nearly 200 points.
On the other hand, retail stocks posted some of the greatest losses after several large retailers reported disappointing November sales data.
Republican rivals open final assault in Florida
How many people even have a house in America worth $300,000? He took this money from a slum lord that he himself has said is a friend of over 15 years, but somehow only performed 5 hours of work for during this time? The person is a known slumlord and influence peddler under indictment and is a recipient of over $43 million in taxpayer's dollars in Obama's area for repair of the slums of the poor. And Kennedy and Obama are supposed to be supporters of the poor. Kennedy is no supporter except of Kennedy. He is anti-everything that he could not have (real political power) and pro-anything he thinks he can stir up. Stirring up can be a good thing, I like change, but change to inexperience and a willing recipient of gold from the corrupt are not qualities of a President. We have the responsibility to elect the best representative, not the one that tickles our fancy or might throw a dart at the establishment.
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