President Bush addressed the subprime mortgage industry, putting forth legislation and ideas to help consumers out of expensive loans. Options proposed include extending the FHA program, suspending tax liabilities, government backed support agencies, and more open loan policies.
The government’s response to an increasingly talked about problem could be welcomed by borrowers who need help, and can not find solutions with their mortgage holders. If the solutions proposed by the government sound familiar, it may be because a lot of community organizations, and lenders have already put plans in place to assist buyers looking for help in light of the repeated media coverage of this issue.
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