baltimoresun.com

« Who's naughty and who's ... well, naughty | Main | Judges comment on foreclosure case »

December 4, 2007

Help is on the way! Or maybe not

If you're a homeowner in trouble with your subprime loan, don't assume all is well now that the Bush administration is crafting a plan to assist -- or at least that's what industry analysts are saying. A New York Times story today reports that analysts say the effort "could help only a small number of those who took out such loans."
Though administration officials have yet to agree on crucial details with mortgage lenders and the securities industry, a similar effort in California is likely to help about 12 percent of borrowers in the state with adjustable-rate subprime loans, according to estimates by Barclays Capital.

In case this number hasn't been hammered into your brain already, about 2 million homeowners with subprime mortgages are likely to see big hikes in their monthly payments "in the next year or so as their introductory teaser rates expire," the Times says.

Posted by Jamie Smith Hopkins at 11:18 AM | | Comments (0)
Categories: Foreclosure help
        

Post a comment

All comments must be approved by the blog author. Name-calling aimed at other commenters is not welcome here. Please do not resubmit comments if they do not immediately appear. You are not required to use your full name when posting, but you should use a real e-mail address. Comments may be republished in print, but we will not publish your e-mail address. Our full Terms of Service are available here.

Verification (needed to reduce spam):

About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
-- ADVERTISEMENT --

Most Recent Comments
Baltimore Sun coverage
Baltimore Sun Real Estate section
Archive: Dream Home
Dream Home takes readers into the houses of area residents who have found their ideal home.
Sign up for FREE business alerts
Get free Sun alerts sent to your mobile phone.*
Get free Baltimore Sun mobile alerts
Sign up for Business text alerts

Returning user? Update preferences.
Sign up for more Sun text alerts
*Standard message and data rates apply. Click here for Frequently Asked Questions.
  • Sign up for the At Home newsletter
The home and garden newsletter includes design tips and trends, gardening coverage, ideas for DIY projects and more.
See a sample | Sign up

Charm City Current
Categories
Stay connected