East Bay Area Real Estate

Rate Freeze Spurs Debate

Rates Freeze Agreement Reached - Yahoo News. The Bush administration has developed a plan to freeze interest rates for five years for thousands of strapped homeowners whose mortgages were scheduled to rise in the coming months.

Hope now for 1.2 million or $145,000 - Inman News blob

Kathleen Pender: How Mortgage-rate Freezes Could Go Wrong. San Francisco Chronicle (sfgate.com)

NAR supports Administration Efforts on Rates Freeze as Important Step in Protecting Homeowners Reuters

Urbandigs.com’s Mortgage Bailout Plan/Subprime Rate Freeze reads

First off, this subprime rate freeze plan does NOT affect all subprime borrowers about to be dealt with higher resetting mortgage payments. That is the most important thing you need to know. It is not a fix-it-all plan and it will not stop foreclosures and defaults from rising in 2008! Sure, it may help a little, but the most I get out of this is a stab at restoring confidence into the credit markets that the gov’t will be there to help if things get hairy.

Rate freeze won’t help many in area. East Bay homeowners may be ineligible because of high cost of homes, use of negative-amortizing loans. Barbara E. Hernandez - MercuryNews.com
The Mortgage ‘Bail-out’: Big Government at its Worst - BloggingStocks.com. George W. Bush today announced his plan to “bail out” homeowners in danger of losing their homes when their low teaser rates increase, as some 2 million are set to do in 2008