Groups Propose Various Measures To Cut Rates, Curb Foreclosures
January 5, 2009
Industry and consumer groups are continuing to push for initiatives to reduce mortgage interest rates and curb worsening default and foreclosure rates. The National Association of Realtors has put forth a proposal based on an idea floated by the Treasury Department in which banks are encouraged to offer purchase home mortgages with a 4.5 interest rate. The proposal’s aim is to jump...