Misblog

Originally Published May 5, 2008; Updated and Republished June 16, 2008:

Legislation (H.R. 5830) has been placed on the House calendar, which will enable an estimated 500,000 primary residence homeowners to use FHA refinancing to refinance their sub-prime mortgages.

Web:

• UPDATED 06/16/2008 WP, The [Mortgage] Bubble People's Choice filed for bankruptcy protection in March 2007—why are the lenders who created the sub-prime mess encouraged to quickly use bankruptcy to write-down their debt and buyers are prevented from accessing the same process?

• Conflict over housing crisis threatens rescue package

  Today the House passed (Roll Call Vote 299) the Neighborhood Stabilization Act of 2008 (H.R. 5818) which will enable HUD to help states mop-up existing foreclosed properties.

  Foreclosed properties are thought to create downward pressure on housing prices like the fraudulent inflated appraisals created upward pressure.