Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Home Builders Support FDIC Foreclosure Relief Plan
Dec 19, 2008
 Printable format
 Email this Article
 Search

The National Association of Home Builders (NAHB) expressed strong support for a plan put forth by Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair to reduce foreclosures, noting that it would help to keep people in their homes and avoid further surges in the inventory of unsold homes.

"The FDIC plan to use TARP funds to bolster foreclosure relief efforts is a creative approach to help strapped borrowers on the verge of losing their homes," said NAHB president and CEO Jerry Howard. "Effective foreclosure relief, along with a stimulus program that includes a meaningful tax credit and aggressive interest-rate buy-down program, are necessary to stabilize the housing market, prop up home values and turn the economy around."

Under the FDIC proposal, lenders would agree to reduce the interest rate, defer some of the amount owed or extend the repayment period so that borrowers could afford to stay in their homes. In return, the government would guarantee that mortgage holders would be compensated for a portion of any losses should the home owner default on the reconfigured loan.

"NAHB believes that such an approach is essential in order to produce a significant reduction in impending foreclosures and commends the FDIC for its leadership in this area," said Howard.

Back to Daily News

 

Daily News

...........................................................

Oct 31, 2014: Whirlpool Completes Acquisition of Majority Stake In Hefei Sanyo

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Statistical Portrait of the European Appliance Industry Released by Appliance Magazine

Oct 30, 2014: New Whirlpool acquisition Indesit reports profit for year so far

Oct 30, 2014: Consumer Confidence Index rebounds in October

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows