There is a bill in the works that would freeze a persons sub prime mortgage at the rate it was before it is adjusted.
Does anyone have more detials on this? Does anyone know when this might pass?
2007-12-03 09:09:07 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Secy of Treasury Paulson indicates that something may come out of current negotiations soon. However, there is disagreement from some about how extensive should be the freeze on ARM interest rates and how it should be handled.
The program will be an agreement, once finalized, between the US Treasury and the major financial lenders. It remains to be seen if it will include ALL lenders or just the major ones.
2007-12-03 09:27:01 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
Cash loans allow the borrower to borrow smaller amounts. And, the borrower can use the loan amount in meeting his small and day to day sudden arisen expenses such as college fees, electricity bills, and debt payment etc.
2007-12-07 13:31:37 · answer #2 · answered by Padam 1 · 0⤊ 0⤋
this may help some.
http://www.nytimes.com/2007/12/03/business/03cnd-debt.html?_r=1&hp&oref=slogin
2007-12-03 17:13:40 · answer #3 · answered by Philip H 3 · 0⤊ 0⤋