Investors buy $558 million in mortgages from FDIC – Piggington's Econo-Almanac

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January 7, 2009 at 2:23 PM #14778

RB-Home Buyer
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“Under that plan, at-risk borrowers pay interest rates of about 3 percent for five years. Rates are reduced so that borrowers aren’t paying more than 38 percent of their pretax income on housing.”

http://finance.yahoo.com/news/Investors-buy-558-million-in-apf-13994476.html

http://www.pnmac.com/

I believe this plan may decrease foreclosure, but recovery will be delayed by more than five years.

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