27 Aralık 2007 Perşembe

Lenders Agree to Freeze Rates on Some Loans 2

But there was no sign on Wednesday that Mr. Bush’s plan would contain new commitments by lenders to help people refinance. Absent any new approaches, borrowers would still be largely on their own to find better deals.

Republican presidential candidates have seemed reluctant to propose government rescue plans, seeing them as a bailout. But they are feeling the heat nonetheless, and some are joining Mr. Paulson’s effort to help people in danger of losing their homes.

“You don’t want to reward speculators,” said Senator John McCain of Arizona, who is running for the Republican nomination. “You’d like to take each individual case on its own, but there’s no time to do that. What’s important is to stop the bleeding.”

John Edwards, the Democratic presidential candidate and former senator from North Carolina, on Wednesday proposed a seven-year freeze in subprime interest rates, as well as a new fund to help distressed borrowers. Mr. Edwards also called for a change in bankruptcy laws that would give homeowners far more bargaining power in negotiating new terms.

Senator Barack Obama of Illinois jumped ahead of many of his Democratic presidential rivals in September with detailed recommendations that included a government rescue fund, changes in bankruptcy law and a new tax credit on mortgage interest for people who do not itemize their taxes and cannot currently deduct their interest payments.

Adding to the political pressure, many of the states that are hardest hit by mortgage defaults and falling home prices are important election swing states. They include Florida, Michigan, Ohio and Pennsylvania.

The first two voting states, Iowa and New Hampshire, have not been particularly hard hit by the housing crisis, but two of the states with early nominating contests — Florida and Nevada — have among the worst problems in the country.

“Even though foreign policy has been dominating the election for the past year, economics will pay a bigger role next year,” said Howard Glaser, a mortgage industry consultant who worked in the Clinton administration and is an adviser to Mrs. Clinton’s campaign. “Not only will the specific mortgage and housing problems intensify, the ripple effects on the economy will also magnify.”

1 yorum:

Properties in Pakistan dedi ki...

Hi

Great information in this post and the first two voting states, Iowa and New Hampshire, have not been particularly hard hit by the housing crisis, but two of the states with early nominating contests — Florida and Nevada — have among the worst problems in the country.

James Williams….
Properties Prices in Pakistan