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Senate Passes Foreclosure Bill

April 10, 2008

This story just came down from CNN.
 
My question is who is this really going to help? Sounds like builders, investors and banks would benefit most from this and it actually might harm people trying to avoid foreclosure.

There is also mention of some overhauling to FHA. FHA has been making some great strides by upping purchase amounts and loosening inspection and other guidelines. Maybe more changes will come out of this bill as well. It was the creation of institutions such as Fannie Mae that pulled us out of the depression. Maybe a little reformation of these entities will bring us out of a recession as well. We’ll see what the House and the President come back with on this.

At least its the start of what could be a fruitful conversation.

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