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March 9, 2021
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MORTGAGE CRISIS
(2007-12-07)
(wgvu) -
PRESIDENT BUSH SAYS STRUGGLING HOMEOWNERS
DESERVE HELP IN A SLUMPING HOUSING MARKET.
DETROIT MAYOR KWAME KILPATRICK CALLS BUSH'S PLAN AN ENCOURAGING
FIRST STEP. BUT HE ADDS THAT THE DEVIL'S IN THE DETAILS.
THE MORTGAGE BANKERS ASSOCIATION SAYS MICHIGAN HAD ONE OF THE
NATION'S HIGHEST DELINQUENCY RATES IN THE THIRD QUARTER -- 8.3
PERCENT OF ALL LOANS.
THE WHITE HOUSE HAS STRUCK A DEAL WITH THE MORTGAGE INDUSTRY TO
FREEZE THE INTEREST RATES FOR THOUSANDS OF PEOPLE WITH SUBPRIME
LOANS.
BUSH SAYS OTHER HOMEOWNERS CAN GET HELP WITH REFINANCING.
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