Comments on: Foreclosure Forbearance May Become Priority for Bailout Cash http://www.foreclosureliving.com/2008/12/16/foreclosure-forbearance-may-become-priority-for-bailout-cash/ Resources and advice for a good life after foreclosure Mon, 06 Feb 2012 17:40:39 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Alexis McGee http://www.foreclosureliving.com/2008/12/16/foreclosure-forbearance-may-become-priority-for-bailout-cash/comment-page-1/#comment-2 Alexis McGee Thu, 18 Dec 2008 00:35:49 +0000 http://www.foreclosureliving.com/?p=75#comment-2 Yes, it is important to keep people who can still afford the original loan payment in their homes. But they represent only half of the problem. The economic conditions are causing more and more people to lose their homes because of income reasons. These people need to be able to get to affordable housing while gracefully leaving their current homes. This is where Sheila Bair's 4.5% purchase money loans would help. Many of the troubled homeowners will be able to get to smaller, more affordable housing under the plan. Focus has been on those affected by reset payments -- less and less as rates come down. It is the homeowners who no longer can make the interest payments let alone any principle who need our focus now. Yes, it is important to keep people who can still afford the original loan payment in their homes. But they represent only half of the problem. The economic conditions are causing more and more people to lose their homes because of income reasons. These people need to be able to get to affordable housing while gracefully leaving their current homes. This is where Sheila Bair’s 4.5% purchase money loans would help. Many of the troubled homeowners will be able to get to smaller, more affordable housing under the plan.

Focus has been on those affected by reset payments — less and less as rates come down. It is the homeowners who no longer can make the interest payments let alone any principle who need our focus now.

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