President Bush solution to foreclosure crisis

President George W. Bush's plans to deal with the sub-prime mortage crisis, the plan would freeze interest rates on certain loans for five years.

Category:

News & Politics

Tags:

• Mortgage
• Relief
• Foreclosure
• Crisis
• WGN
• News
• Chicago
• President
• George
• W.
• Bush
• loan
• qualification

[November302008]

Google search - Fix Housing First.

[Greenandscaly]

Another instance where Bush failed to respond quickly to a serious crisis. 9/11, Katrina, the economy. You see a pattern here?

[DW8814]

I agree something must be done, but even if the federal gov bailsout the people and extends the foreclosure limits...people are still in crisis after the time limts expire..You are so correct on the fact that something must be done...but some people should be held accountable for buying a home they can't afford. Its a damn shame that people are in the situation, but some put themselves there by their own stupidity!.

[ciro9]

"We the People" of moderate income should be granted the right to borrow or refinance a low interest home mortgage loan based on income directly from the Fed which should be nationalized for the working class people of our nation" to end the mortgage slavery in America from the bank's, Fannie Mae, Freddy Mac, FHA etc. "The Change We Need" must come from the Federal government.

[laotian78]

I think home owners should ask the lender to extend the years of the loan to 60 years instead of 30 years. So the home owners can cut down the house payment to half and will have more money to save.

[monkeyman1140]

Americas were able to afford their homes, until Wall Street speculators lost their butts in the stock market, then jacked up ARMs to help pay off their poor decisions.

[AMERICANSTEW5]

RON PAUL, TOLD YOU SO!

[GA7777777]

This plan is to little to late. Most Americans owe more on their homes than they can sale them for. Property values are dropping every day. One foreclosure in your neighborhood effects your values. Something must be done now or we will have another Great Depression !!!

[lawbeat3]

This whole foreclosure crisis is based on the ignorance of the people. I know people who've educated themselves enough in law to save their homes just by knowing how to address and attack the process used against them in court. It's almost "easy." There was a group on the west coast doing it a ton a year ago, and now there are groups on the east coast doing it...very successfully. No one has to lose their home, EVER...it's a disgusting shame. But this is what happens in an ignorant country.