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July 31, 2008
Asking for Mortgage Foreclosure Forbearance Until Oct. 1
The Hope for Homeowners Act portion of the comprehensive Mortgage Reform Bill will go into effect on Oct. 1, 2008, and House Financial Services Committee Chairman Barney Frank is asking lenders to delay taking action on mortgage foreclosures until Oct. 1, 2008, when the new programs become available to at-risk homeowners.
Link: http://www.house.gov/apps/list/press/financialsvcs_dem/press072508.shtml
(ag) July 31, 2008, in Lending Issues
July 31, 2008 in Lending Issues | Permalink
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Comments
How does this bill affect me, a homeowner who has been fighting foreclosure for 5 years, with an open, active case in court? Do I ualify for forebearance? Does the bill give judges the control to modify or restructure mortgages?
Posted by: Bernice | Sep 29, 2008 8:11:44 AM
