Clinton Seeks Aid For At-Risk Homeowners
August 7, 2007, 2:40 PM
Senator Hillary Rodham Clinton is calling for a $1 billion federal fund to help homeowners avoid foreclosure.
The New York Democrat is also proposing penalties against mortgage brokers who engage in predatory lending. Speaking in Derry, New Hampshire, the front-runner for her party's presidential nomination said its time to "acknowledge we have a real challenge and confront it head-on with real solutions."
Weak home prices and rising interest rates have made it increasingly difficult for borrowers to keep up with their
payments, pushing delinquencies and foreclosures sharply higher.
Yesterday American Home Mortgage Investment, the nation's tenth-largest mortgage lender, filed for bankruptcy protection. Two other mortgage lenders have said they are not accepting new applications.
© 2007 Associated Press. All rights reserved. Material may not be redistributed.
9/25/2014 10:00 PM
Miracle on the highway: that's how many people are describing a bad crash between a semi-truck and car in which no one was killed.
9/26/2014 4:55 PM
Friday night's homecoming at Brandon Valley High School is a crowning achievement for a senior who's living with autism.
9/28/2014 11:42 AM
Prosecutors may file additional charges because a western Iowa teen died two days after suffering a head injury during a fight at school.
9/30/2014 5:00 PM
Two people are hurt, one seriously, after a chain-reaction crash in eastern Sioux Falls involving a semi-truck and four other vehicles.
9/26/2014 6:39 AM
Sioux Falls police say a missing boy showed up for school Friday morning.