More Help May be Coming

In an announcement on Wednesday, March 12, the House Business Affairs subcommittee, chaired by Barney Frank (D-MA), announced a plan to assist homeowners facing possible foreclosure. Much more broad based and realistic than an earlier one put into use by the Treasury Department, the plan will potentially assist a larger number of homeowners facing default and foreclosure. It will also mandate more limits on the lenders involved than existing plans so that they are more directly involved in the assistance envisioned. REMEMBER: at present, this is only a proposed bill; it is not yet law. But it is a start. Keep watching here.