What Are Some Types of Mortgage Bailout Plans?
Mortgage bailout plans can vary in description and in the level that actually help homeowners. Conceivably, there could be a plan to forgive all debts of homeowners who are approaching foreclosure. Of course, this wouldn’t be very likely or reasonable. Most of the plans will offer just a measure of assistance to homeowners – generally enough to help them avoid losing their homes. The plan that President Bush proposed in December 2007 was simply a plan to freeze mortgage interest rates. Many feel that this effort alone is not really a bailout, just a federal regulation that should have been in place all along. Depending on how this works, there may be a need for another more direct mortgage bailout plan. The intensity of this plan could vary, but will likely have to involve the forgiveness of a certain amount of the debt owed. It may even involve some homeowners receiving a 100% debt forgiveness. To some homeowners, a mortgage bailout plan may involve an actual lawsuit filed by them aga
