Treasury Secretary Henry M. Paulson has been criticized by members of Congress for using the bailout money to shore up Wall Street banks while doing nothing for homeowners facing foreclosure
Financial industry lobbyists are urging the Treasury Department to consider a plan to purchase mortgage-backed securities in the hopes of driving mortgage rates to as low as 4.5% in hope of stabilizing the housing market.Under the proposal, the Treasury Department would seek to lower the rate on a 30-year mortgage to 4.5%,
The National Assn. of Realtors has been pushing this plan under which the federal government would spend $50 billion to lower mortgage rates. It says doing so would yield about 500,000 more home sales.
The National Assn. of Home Builders is leading a new Fix Housing First coalition to push for aid to the ailing sector, including a tax credit of up to $22,000 for anyone who buys a home before the end of 2009.
The 4.5% mortgage rate on a 30-year fixed will push the home prices up. It’s normal in the economical equation: With more demands prices will rebound.
The plan will help anybody looking to buy a home with the new low mortgage rate and the additional tax credit, and will encourage the refinance for the home owners by keeping or selling and buying new homes to get the profit from this plan.
The housing market will bloom again, but as with all true disasters, a series of mistakes are made that caricaturize the crises. Analysis provides us with many lessons ,one of the lessons will keep the people who their credit was destroyed by this disaster without a solution .They will try to get loans ,but the banks will be more severe with the qualifications after all what happened to the banking and financial services.
Mona Ata
Financial industry lobbyists are urging the Treasury Department to consider a plan to purchase mortgage-backed securities in the hopes of driving mortgage rates to as low as 4.5% in hope of stabilizing the housing market.Under the proposal, the Treasury Department would seek to lower the rate on a 30-year mortgage to 4.5%,
The National Assn. of Realtors has been pushing this plan under which the federal government would spend $50 billion to lower mortgage rates. It says doing so would yield about 500,000 more home sales.
The National Assn. of Home Builders is leading a new Fix Housing First coalition to push for aid to the ailing sector, including a tax credit of up to $22,000 for anyone who buys a home before the end of 2009.
The 4.5% mortgage rate on a 30-year fixed will push the home prices up. It’s normal in the economical equation: With more demands prices will rebound.
The plan will help anybody looking to buy a home with the new low mortgage rate and the additional tax credit, and will encourage the refinance for the home owners by keeping or selling and buying new homes to get the profit from this plan.
The housing market will bloom again, but as with all true disasters, a series of mistakes are made that caricaturize the crises. Analysis provides us with many lessons ,one of the lessons will keep the people who their credit was destroyed by this disaster without a solution .They will try to get loans ,but the banks will be more severe with the qualifications after all what happened to the banking and financial services.
Mona Ata
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