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One of the foreclosure relief programs that House Republicans are looking to shut down this week has been a widely-recognized failure. It was supposed to provide incentives for mortgage lenders to voluntarily renegotiate loans for underwater homeowners, but it never caught on. The other program, however, hasn't gone into effect yet, but because it doesn't require the cooperation of lenders it's expected to be more successful when it does. The program, which is called Emergency Mortgage Relief, would provide government bridge loans to help unemployed homeowners avoid foreclosures. Since we can't evaluate it in action, here's a closer look at how's it's supposed to work once it starts up.

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