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Wednesday, August 29, 2007

The mad dash for housing help

August 29 2007
States and nonprofits rush to provide help to those victimized by subprime loans, and borrowers rush to accept. Tens of thousands of frightened homeowners looking to get out from under the crumbling walls of the subprime mortgage collapse have found refuge in a variety of programs.When Senate Banking Committee Chairman Christopher Dodd mentioned the national Homeowner's HOPE Hotline in comments Tuesday, it triggered some 3,000 calls. An announcement in April that the Neighborhood Assistance Corporation of America would be offering $1 billion in rescue money to beleaguered borrowers has prompted more than 50,000 inquiries, according to the organization.


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