"A bill that would allow the government to guarantee new mortgages for home owners facing foreclosure passed in the U.S. House of Representatives on Thursday.
The bill was approved by a vote of 266-154.
A companion bill that would send $15 billion to states to buy and fix up foreclosed properties also passed the House 239-188.
President Bush has threatened to veto both bills."
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House passes mortgage help despite veto threat
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2 comments:
Chris, I am a homeowner that has a 3/1 arm that will be resetting from its current 1.25% rate to a crushing baloon rate of 26%. My payments on my home are going from 1,600 per month to 8 grand. Admittedly, my job as a trapeze artist didn't justify buying such an expensive home in the first place, but I hoped to be ringmaster at this point and be able to afford the new payments. Unfortunately my arm was bitten off by one of the lions when I fell from the tight rope and I am unable to perform ringmaster duties.
Do you think I should simply stop paying my mortgage and wait for the government to bail me out? I could also pull some sort of insurance scheme but I do not have any Submission Wrestling skills that are necessary to survive in prison.
Any advice you can provide would be appreciated.
Ryan Owen
Ryan,
Give me an email at Chris@BJJ-Broker.com and we'll catch up!
Chris
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