Foundation for Economic Education
http://www.fee.org
Feds Announce Plan to Delay Foreclosures
Posted By admin
The Bush administration, trying to deal with a worsening housing slump, announced a new initiative Tuesday aimed at helping homeowners about to lose their homes. For qualified homeowners, it will put the foreclosure process on hold for 30 days. Dubbed Project Lifeline, the new program will be available to people who have taken out all types of mortgages, not just the high-cost subprime loans that have been the focus on previous relief efforts. (Associated Press (Tulsa World) [1], Tuesday)
Shielding people from responsibility: government at its best!
FEE Timely Classic
Let's Not Do It Ourselves [2] by Paul L. Poirot
Article printed from Foundation for Economic Education: http://www.fee.org
URL to article: http://www.fee.org/articles/in-brief/feds-announce-plan-to-delay-foreclosures/
URLs in this post:
[1] Associated Press (Tulsa World): http://hosted.ap.org/dynamic/stories/M/MORTGAGE_MESS_RESCUE?SITE=OKTULamp;SECTION=HOMEamp;TEMPLATE=DEFAULT
[2] Let's Not Do It Ourselves: http://www.fee.org/publications/the-freeman/article.asp?aid=7995
Click here to print.
Copyright © 2008 Foundation for Economic Education. All rights reserved.