Over the weekend, the Senate held an unusual Saturday session in order to pass the "Foreclosure Prevention Act of 2008" or was it the "Housing and Economic Recovery Act of 2008"? No wait. Wait, wait, wait. It was the "American Housing Rescue and Foreclosure Prevention Act of 2008". That's it.
You forgot to mention that they keep 100% of your profit if you sell the home in the first year and 90% the 2nd year and so on until the 5th year where it stays at 50% for the life of the loan. I do believe the bill will help people but it will be at the cost of something way more tragic.
jonsteingraber 3 years ago