President Bush Signs New "Foreclosure" Laws

I had a chance to read the article (and some of the comments that were included) and needless to say it all seems so complicated! It also seems to benefit the mortgagor and not the mortgagee. There are also a lot of conditions and limitations to these laws most notably that only adjustable rate mortgages (and not fixed 30 year mortgages) apply to these laws.

I do have another blog called Grant Basics 101 and another website called Grant Related Information - so hopefully you will be able to find some information on one of these sites that could help you in case your are in foreclosure "trouble". You might also want to check with your local social services agency to see if there are any financial programs that you can qualify for to help you save your home.

I wonder what happen to that proposed 90 day moratorium on foreclosures. I guess it never saw the light of day!

President Bush Signs Foreclosure Law