by Moe Bedard
It looks like the brunt of the foreclosure problems in our country will rest on the shoulder of the Federal Housing Administration - FHA.
All the key players in the housing and mortgage crisis plus the democratic presidential candidates have all agreed that there will be no new agency created to deal with the national foreclosure crisis.
House financial [...]
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by Moe Bedard
By Alison Vekshin
Jan. 23 (Bloomberg) — Senate Banking Committee Chairman Christopher Dodd proposed creating a federal program to buy “very distressed” mortgages at steep discounts as part of economic stimulus legislation being developed in Congress.
The Federal Homeownership Preservation Corp. would buy loans and finance them as 30-year fixed-rate mortgages to help keep borrowers from losing [...]
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