Wednesday, June 25, 2008

Should Government Bail Out Foreclosures?

The senate is pretty close to passing a $300 billion bailout for homeowners in foreclosure. In essence, this bill would use FHA, HUD money to back up "bad" loans that will result in foreclosure. In essence, every American Tax Payer gets to help Counrywide, and other lenders who loaned to risky borrowers cut their losses.

read more | digg story

Saturday, June 7, 2008

Nearly 1 in 10 homes behind on payments.

Nearly 1 in 10 US homes are behind on atleast one payment. These foreclosure starts are especially high among the sub-prime and ARM loans.