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There is a bill in the works that would freeze a persons sub prime mortgage at the rate it was before it is adjusted.

Does anyone have more detials on this? Does anyone know when this might pass?

3 Thoughts on New bill before congress regarding sub prime loans?
  1. Reply
    acermill
    May 2, 2011 at 3:01 am

    Secy of Treasury Paulson indicates that something may come out of current negotiations soon. However, there is disagreement from some about how extensive should be the freeze on ARM interest rates and how it should be handled.

    The program will be an agreement, once finalized, between the US Treasury and the major financial lenders. It remains to be seen if it will include ALL lenders or just the major ones.

  2. Reply
    Padam
    May 2, 2011 at 4:01 am

    Cash loans allow the borrower to borrow smaller amounts. And, the borrower can use the loan amount in meeting his small and day to day sudden arisen expenses such as college fees, electricity bills, and debt payment etc.

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