Democratic leaders on Wednesday called on President Bush to appoint a “mortgage czar” to coordinate the federal response to the subprime mortgage crisis, saying the administration’s response so far has been inadequate. Senate Majority Leader Harry Reid, D-Nev., characterized the mortgage woes and the accompanying wave of foreclosures as a “national crisis” and said the […]
Article Category: FHA in the news
Administration Offers Plan to Curb Foreclosures
The Bush administration announced a new mortgage industry coalition on Wednesday aimed at helping homeowners avoid being trapped in a rising tide of foreclosures.
Treasury Secretary Henry M. Paulson Jr. said the initiative would help coordinate efforts by financial companies to help an estimated 2 million homeowners whose introductory mortgages with low rates are now resetting […]
BUSH ADMINISTRATION TO HELP NEARLY ONE-QUARTER OF A MILLION HOMEOWNERS REFINANCE, KEEP THEIR HOMES
WASHINGTON - President George W. Bush today announced that HUD’s Federal Housing Administration (FHA) will help an estimated 240,000 families avoid foreclosure by enhancing its refinancing program effective immediately. Under the new FHASecure plan, FHA will allow families with strong credit histories who had been making timely mortgage payments before their loans reset-but are now […]
Ahead of the Bell: FHA overhaul
WASHINGTON
House lawmakers are planning to vote Tuesday on an overhaul of a federal agency that insures mortgages against default in an effort to help struggling homeowners avoid foreclosure.
The plan of leading House Democrats to expand the role of the Federal Housing Administration goes further than the Bush administration’s plan to ease some of the mortgage […]
New Limits on FHA loans could reach $500,000
U.S. Representative says GSE amendment would make loan cap $500,000
Last Update: 2:01 PM ET Sep 11, 2007
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(Updates to add details)
By Damian Paletta
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–U.S. House Financial Services Committee Chairman Barney Frank said Tuesday an amendment he plans to offer next week would […]
Refi rescue
And potentially some tax help, too. Here are breaks that borrowers in a pickle may receive in the next few months.
By Jeanne Sahadi, CNNMoney.com senior writer
September 12 2007: 1:52 PM EDT
NEW YORK (CNNMoney.com) — Hundreds of thousands of homeowners who may struggle to make mortgage payments are likely to get some relief in coming months, […]
Are the current iniciatives by the Fed and the President enough?
On Aug. 31, while many of us were getting ready for a long holiday weekend, President Bush addressed the nation about the mounting concerns in the housing market. His speech took place exactly one month before we’ll see a record-breaking $50 billion in mortgages reset to a new rate.
That’s right, in the month of October […]
How FHA Could Help Borrowers
Bush Backs Giving Agency
Flexibility to Offer Options
For Mortgage Refinancing
August 22, 2007; Page A4
WASHINGTON — As the subprime-mortgage crisis ripples through the broader housing market, the Bush administration is eyeing an often overlooked federal mortgage insurer to help low- and middle-income homeowners avoid foreclosure.
President Bush has balked at allowing mortgage giants Fannie Mae and Freddie Mac to buy […]