As the new Congress gets into its work, to be followed in a week by Obama's inauguration, there is increasing talk of additional ways to help homeowners facing foreclosure. While no specific plan is yet available or close to becoming law, a variety of things is being discussed. Among these are moratorium periods before foreclosure is initiated, a redrafting of the bankruptcy laws, an extension of the TARP bailout for homeowners facing foreclosure and a fee-driven incentive for lenders to be more pro-active on loan modifications.
While nothing is in writing yet, much less in stone, something is likely to happen. Keep your eyes here for updates when it happens.
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