Plan to Aid Borrowers Is Greeted by Criticism
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Analysts said President Bushâs plan to aid troubled homeowners facing foreclosure fell short of the broad reforms needed to help people meet mortgage payments.
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Do suffering mortgage holders deserve help? All things considered, yes.
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Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. Regulators and lawmakers seem to be taking a wait-and-see approach as they confront the fallout from several years of lenders making too many home loans to people with inadequate credit.
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Borrowers with poor credit ratings may see rates jump to 10 percent or more.
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The subprime mortgage mess has created a mixed blessing for potential homebuyers.
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A new program to help delinquent mortgage borrowers stave off foreclosure doesn't really help much, according to some experts.
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President Bush today outlined his plan for helping troubled subprime borrowers keep their homes. The initiatives target hundreds of thousands of homeowners. The president said he would not bail out homeowners facing foreclosures or lenders with financial problems.
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Six of the biggest US banks are set to announce plans to offer more help to those struggling with mortgages.
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Â· Experts condemn plan to make tenants seek workÂ· No 10 takes detached view of minister's plans
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A public funding watchdog criticises the government's financial response to the summer's floods.
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The schemes take various forms and often involve promises to distressed homeowners of cash upfront.
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The project has prompted criticism from those who worry that lawyers could skew new rules in favor of their clients.
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The bill would allow the Federal Housing Administration to back refinanced loans for tens of thousands of borrowers who are delinquent on mortgage payments.
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WASHINGTON, Sept. 18  â The House approved a plan on Tuesday to expand federal backing of mortgages in hopes of helping struggling homeowners avoid foreclosure.
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The proposal by federal regulators comes as subprime mortgages have come under stress and scrutiny.
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Even borrowers with strong credit are feeling the pinch as home values fall and payments rise. Tuesday, several banks are expected to offer assistance to ease the burden.
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Proposals to help poor countries work their own way out of debt are being published by a Tory policy group.