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Mortgage pliancy urged, an article from
The Denver Post,
reports that Sheila Bair,
chairwoman of the Federal
Deposit Insurance Corp., was
in Denver on Monday to
address the annual
conference of the National
Community Tax Coalition, a
group that seeks to improve
the economic well-being of
low- and moderate-income
households. Bair said that
lenders should restructure
adjustable-rate mortgages
before rising payments push
them into default. She is
calling on lenders to
convert those
adjustable-rate loans to
fixed rate when borrowers
have stayed current for
several years. Lenders have
resisted blanket amnesties
to head off problems, but
will work with delinquent
borrowers on a case-by-case
basis.
http://www.denverpost.com/business/ci_7056879
Bankruptcy 'tweak' could save 600,000 homes,
an article from
CNNMoney.com,
reports that the Center for
Responsible Lending is
proposing a plan that would
'tweak' the regulations for
Chapter 13 bankruptcies.
Under a House bill recently
introduced, a bankruptcy
judge would have the option
of reducing what the
homeowner owes the lender to
match the home's current
market value as well as
reduce the loans' interest
rate. The rest of the
principal would be treated
as unsecured and may be
discharged. CRL's senior
vice president Eric Stein
wrote, "Loan
modification...just allows
the process to reach a
resolution without a
homeless family and
boarded-up home as the
unnecessary by-products."
http://money.cnn.com/2007/10/01/real_estate/subprime_bankruptcy_change/index.htm?postversion=2007100115
Additional articles that you may find of interest:
Toma West buys 90 percent-leased 633 17th St. building
http://www.rockymountainnews.com/drmn/real_estate/article/0,1299,DRMN_414_5712198,00.html
Higher education seeks $3.7 billion for buildings
http://www.denverpost.com/news/ci_7056341
Chasm grows between home lenders and self-employed
http://www.usatoday.com/money/economy/housing/2007-10-01-self-employed-buyers_N.htm
Dow Hits New Record
http://www.businessweek.com/investor/content/oct2007/pi2007101_844049.htm?chan=investing_investing+index+page_top+stories
FHA Prohibits Seller-Financed Charitable Down Payments
http://www.realtor.org/rmodaily.nsf/pages/News2007100105
For Most Buyers, the Mortgage Market Is Healthy
http://www.realtor.org/rmodaily.nsf/pages/News2007100103
Small Commercial Investors Are Thriving
http://www.realtor.org/rmodaily.nsf/pages/News20071
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