President's New Plan to Aid Foreclosures

[spearmint]

The Government recently announced help for those in foreclosure. When are these new measures supposed to take effect?

[HHM]

The rules are supposed to be published around March 4 or 5. But honestly, don't hold your breath, what has been proposed so far is not that much different than what already exists. I honestly hope it works, but I suspect, just like the last TARP thing, it was supposed to help 100,000 homeowners, but to date, only 200 people have qualified.

[Mische]

The plan is just a cutoff from Fannie and Freddies policies and that of the FDH. I wonder how effective it will be to solve the problems...