More News On The Ever-Increasing Foreclosure Front

Here is a current article about Prsident Bush and the current foreclosure problems that are plaguing homeowners who can't afford to meet their monthly mortgage payments.

While the President said that he didn't approve of giving homeowners out and out grants, he did favor programs that would help homeowners with good credit to be able to re-finance their mortgages. However I think that a big problem with this is that there are a lot of homeowners that have bad credit ratings who need help with meeting their monthly mortgage payments. There are a lot of homeowners who have taken mortgages with very high rates and more worse they have taken out adjustable rate mortgages as opposed to fixed-rate mortgages. With adjustable rate mortgages the monthly mortgage payments are not the same every month and will sometimes increase to a lot more than what was paid the previous month.

I was watching one of those infomercials about how there is a lot of money to be made with foreclosures but all I could really think about when I was watching this program was about the people and families that have lost their homes!