Rants on the topic of home loan
Even banks and investors thought the real estate market was no longer a risky venture, as mortgages were being repackaged and resold in various forms. When the real estate market began to decline and the credit crisis set in, many consumers, banks and investors found themselves struggling. The Obama Administration has vowed to make the battered housing market a priority. The second week of February, Secretary of Treasury Tim Geithner announced that $50 billion of the stimulus bill would be dedicated to reducing home mortgage foreclosures. As the country anxiously awaits the specifics of the stimulus package, things such as incentives for banks to lower home mortgage bills are being discussed.