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By Attorney/Best-Selling Author William Bronchick
December 5, 2007
The Bush Administration has worked out a deal with lenders to freeze rates on adjustable loans for up to 5 years.  This would apply to loans originated at the beginning of 2005 through July 2007.  http://news.yahoo.com/s/ap/20071205/ap_on_go_pr_wh/mortgage_crisis Is this a smart move?  Time will tell, and certainly this is the first real move the government has made to directly help homeowners.  Certainly the people who got loans before 2005 will feel left out, but this will undoubtedly reduce the foreclosure rate.  The bottom line of whether this improves the housing market will be dependent on whether it makes investor on Wall Street feel warm and fuzzy enough to start buying up pools of mortgage backed securities so lenders can start softening up on their loan guideliness.

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William Bronchick, ESQ.

Nationally-Known Attorney, Author, and Speaker

Attorney William ("Bill") Bronchick, the host of Legalwiz.com, has authored six best-selling books and is sought nationwide for his 30+ years of real estate and legal knowledge. He has been interviewed by numerous media outlets, such as CNBC, TIME Magazine, USA Today, Investor Business Daily, Forbes, and the LA Times, to name a few. William Bronchick is the co-founder and past President of the Colorado Association of Real Estate Investors and the President of the Colorado Landlords Association. Click on the "About" link above for more information on William Bronchick.

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