Yak Rider asked:


I heard Hillary on the radio advocating a 90 freeze in home foreclosures (on sub-prime loans) and a 5 year freeze on interest rates (on sub-prime loans). Just where would congress get the authority to void millions of legal, private contracts, freely entered into by millions of people, under the existing laws of the 50 states and territories?

For all of you who are worried about your rights, doesn’t this make what President Bush has done pale in comparison?

John L asked:


A significant number of people that don’t qualify for traditional home loans accept subprime loans to get into a home of their own, often without understanding that their mortgage will jump dramatically.

Lenders, on the otherhand, are making loans to people that can barley make the starting mortgage and will find it almost impossible to make the payment once the mortgage increases.

Many people got into these loans with the expectation that the value of their home would increase and they could refinance, but in the current cool market it’s nearly impossible to refinance.

Again, who’s to blame? A person for taking the loan they can’t afford or the lender that knows that the family will probably lose the house?

janiegirl asked:


I am trying to find a website that has complete foreclosure listings for free. Every time I look on the web the foreclosure sights say the listings are free, but in order to look into this any further you have to pay a fee with a debit or credit card. Is there any sight that truly is free? A sight that will give you addresses without having to pay? Thanks for answering if you can!

M?ni asked:


I’ve been hearing advertisments about home foreclosures. Has anyone had a good experience from getting a new home this way?

morsy asked:


When the contract with a mortgage company says the homeowner will be responsible for foreclosure costs, how much do those costs usually amount to?