Posted on November 3, 2008 by Bret Jenkins
The Federal Government is apparently preparing to announce a rescue plan that would provide some assistance to approximately 3 Million homeowners around the US who may be facing Foreclosure.
No specific plan has been formalized yet but negotiations are underway between a number of Federal Regulatory Agencies. The brief outline announced today maps out a plan that would modifying existing loans by lowering interest rates for a five year period. More details have not been announced.
Approximately $50 Billion would be pulled from the recent Federal Bailout Plan to help homeowners and the “rescue plan” would be administered by the Federal Deposit Insurance Corp, commonly known as the FDIC.
Consumers across the US are becoming increasingly frustrated with the Federal Government’s focus on large corporations, while ignoring the American Homewowner - as are we!
Stay tuned - we believe this would/will be a great thing for the US as a whole and the local Las Vegas Real Estate Market!!
