Loan Modifications -- The Federal Housing Bill

Congress has passed Federal housing legislation to address the housing downturn, the subprime crises, and the problems confronting Fannie Mae and Freddie Mac. Once signed by the President,this legislation will impact the ability of homeowners to modify or renegotiate their mortgages. Any reader who was interested in the last post about negotiating a loan modification should read the overview of the new legislation in the July 25, 2008 New York Times entitled, "A Housing Bill That Has Something For Everyone." To read the article, click here.