14 Oct 08 Bank of America Cuts Mortgage Payments – $8.4 Billion Price Tag

Bank of America announced a new program slated to start in December of this year that will help as many as 400,000 homeowners dodge foreclosure and rising mortgage payments. The program will benefit Countrywide borrowers of Alt-A, adjustable rate, sub prime fixed rate and even prime mortgages; this announcement is part of an agreement with [...]

    

Tags: bank of america, countrywide financial, financial news, mortgage bailout, new home mortgage news, news, real estate news

09 Oct 08 Hope for Homeowners Act of 2008 – What’s At Stake?

Last week the Senate, Congress and President Bush approved an estimated $700 billion bailout rescue plan meant to stabilize our financial markets and stimulate lending between banks, and to businesses. From what I understand, the plan would allow the government you and me to purchase risky assets (loans) from banks. This would give banks more [...]

    

Tags: $700 billion bailout, financial news, global credit crisis, Hope for Homeowner's Act of 2008, news, real estate news