The goal seemed simple enough. Provide more opportunities for people to own a home. After all, home ownership helps stabilize neighborhood values and contributes to the growth of the overall economy. Home ownership is the cornerstone of the American capitalistic system; it symbolizes freedom and our right to vote. Its foundation can be traced to our Constitution and Bill of Rights. The freedom of speech, religion, and assembly, the protection against quartering of troops, protection from … [Read more...]
Housing Bill is (f)law(ed)
July 29, 2008 By 1 Comment
After many months of wrangling and speculation it now appears that we will have a new housing bill. While congress and the President slap themselves on the back in congratulatory applause, one overriding issue comes to mind. Will this legislation really be effective? If we look at the components of how this is to be structured it is largely dependent upon banks willingness to reduce the principal amount of the mortgage, thereby taking a loss which would enable the borrower to reduce their … [Read more...]
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