Housing Relief on the Way? Or a Long Way Off?
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The Bush admistration announced a huge loan modification plan going into effect. Chuck Schumer stated that the plan didn't go far enough in bailing out distressed homeowners.
Rising Unemployment is largely to blame for increasing foreclosures.
Meanwhile, Citi Group announced that they are proactively helping homeowners avoid foreclosur by launching a loan modification program of their own.
As for the status of the local market, will this round of bailouts be enough to get lenders to come to the table with some loans?
When will the logjam break for the middle housing market?
The Bush admistration announced a huge loan modification plan going into effect. Chuck Schumer stated that the plan didn't go far enough in bailing out distressed homeowners.
Rising Unemployment is largely to blame for increasing foreclosures.
Meanwhile, Citi Group announced that they are proactively helping homeowners avoid foreclosur by launching a loan modification program of their own.
As for the status of the local market, will this round of bailouts be enough to get lenders to come to the table with some loans?
When will the logjam break for the middle housing market?
