Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook

'Serpent Pastor' Dies of Snake Bite Mack Wolford believed faith compelled him to face the risk »

Bush Promises Mortgage Relief

Fed agencies to offer aid to help Americans during credit squeeze

By Wesley Oliver, Newser Staff

Posted Aug 31, 2007 2:52 PM CDT

(Newser) – The government will roll up its sleeves and aid homeowners battered by the subprime mortgage crunch, but it will forsake “speculators” trying to exploit the crisis, President Bush said today. The FHA will step in and help delinquent borrowers avoid foreclosure by refinancing at... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

'Serpent Pastor' Dies of Snake Bite

Miami Face-Eater Identified

Bloomberg (Source Grid »)

Bush: Americans can get by with "a little help from their government"
Associated Press

Bush's goal to help investors, not Wall Street
New York Times

Market's reaction to Bush, Bernanke comments
MarketWatch

Video analysis of Bush speech
CNBC

President Bush's full speech
Wall Street Journal

Money • US

housing market • subprime mortgages • home sales • global economy • US economy • Freddie Mac • Fannie Mae • Federal Housing Administration • private lenders • home resales • homeowners • borrowers • George W. Bush • foreclosures

More Newser Stories

Bush to Unveil Bailout Plan in Mortgage Crisis

Reforms will help families keep their homes

(NEWSER) - President Bush will announce a rescue package for homeowners with subprime mortgages faced with foreclosure. The package will include a call for Congress to give the Federal Housing Administration more power to help borrowers keep their homes—and stricter enforcement of laws against predatory lending, Reuters reports. More»

$26B Mortgage Settlement a 'Modest' Help: Experts

Many struggling homeowners not covered in deal

(NEWSER) - The $26 billion mortgage settlement announced yesterday will be a boon for some—but the terms of the deal leave many homeowners out in the cold. Recipients of loans owned by the Federal Housing Administration, for instance, won't directly benefit from the settlement; nor will those with mortgages held by private investors, the New York Times reports. Millions of Fannie Mae and Freddie Mac loans—about half of America's mortgages—aren't part of the plan, either. More»

Home Foreclosures Hit Record

August numbers double, with no end in sight

(NEWSER) - Another 108,716 American homeowners received foreclosure notices in August, a record total more than double last year’s figure. And this is only the beginning, say analysts, who expect even more subprime borrowers to default over the next 2 years. That will further depress housing prices, which are expected to drop 2.1% this year and 3.1% in 2008, reports Bloomberg. More»

Foreclosure Scandal Messing Up Home Sales

Thousands of sales thrown into limbo

(NEWSER) - Hundreds of thousands of foreclosures have been thrown into limbo in the wake of revelations that major lenders didn’t properly review the foreclosure documents, creating a big mess for people trying to buy those homes, the New York Times reports. JPMorgan and GMAC have suspended foreclosures in the 23 states where court approval is required for foreclosures, and Bank of America today instituted a nationwide moratorium, according to the Wall Street Journal . All have forbidden Fannie Mae and Freddie Mac from selling homes linked to their loans. More»

Obama Housing Rescue Plan Leaves Many Out in Cold

Criteria keep many who need help from refinancing under the plan

(NEWSER) - A large swath of Americans will see no help under the Obama administration’s housing rescue plan, the New York Times reports. While designed to prevent 3 million to 4 million foreclosures through loan modifications, the plan doesn't cover those whose loans aren’t backed by Fannie Mae or Freddie Mac, or those who owe more than their home’s value on loans more than $729,750 through other lenders. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Bush Promises Mortgage Relief

Fed agencies to offer aid to help Americans during credit squeeze

housing market • subprime mortgages • home sales • global economy • US economy • Freddie Mac • Fannie Mae • Federal Housing Administration • private lenders • home resales • homeowners • borrowers • George W. Bush • foreclosures

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Bush to Unveil Bailout Plan in Mortgage Crisis

Reforms will help families keep their homes

$26B Mortgage Settlement a 'Modest' Help: Experts

Many struggling homeowners not covered in deal

Home Foreclosures Hit Record

August numbers double, with no end in sight

Foreclosure Scandal Messing Up Home Sales

Thousands of sales thrown into limbo

Obama Housing Rescue Plan Leaves Many Out in Cold

Criteria keep many who need help from refinancing under the plan

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?