Bush Announces Mortgage Plan - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

National

Bush Announces Mortgage Plan

President Bush is announcing a private-sector plan to help many thousands of strapped homeowners whose mortgage payments are scheduled to rise in the coming months.

The plan would freeze interest rates on certain loans for five years. But there are tough new requirements, including that borrowers can't have missed any payments at the old, lower rates.

 Bush says the plan isn't a bailout of real estate speculators or anyone who made a "reckless'' decision to buy homes they couldn't afford. He calls it a ``sensible response to a serious challenge.'' More than a million people could be eligible for help under the plan, developed in negotiations with the mortgage industry. But Bush says help will only come to those who ask for it.

He's urging people to call a new hot line: 1-888-995-HOPE.

  • NationalMore>>

  • Trump Jr. called a 'disgrace' for criticizing London mayor

    Trump Jr. called a 'disgrace' for criticizing London mayor

    Thursday, March 23 2017 6:37 AM EDT2017-03-23 10:37:03 GMT
    Thursday, March 23 2017 6:37 AM EDT2017-03-23 10:37:03 GMT
    Donald Trump Jr. is facing criticism for tweeting in the hours after Wednesday's London attack a months-old comment from London Mayor Sadiq Khan that terror attacks are part of living in a big city.
    Donald Trump Jr. is facing criticism for tweeting in the hours after Wednesday's London attack a months-old comment from London Mayor Sadiq Khan that terror attacks are part of living in a big city.
  • GOP health bill on the brink hours from House showdown vote

    GOP health bill on the brink hours from House showdown vote

    Thursday, March 23 2017 5:27 AM EDT2017-03-23 09:27:56 GMT
    Thursday, March 23 2017 5:27 AM EDT2017-03-23 09:27:57 GMT

    A late-night meeting of moderate-leaning members Wednesday broke up without resolution or a deal as most lawmakers left out of side exits and avoided talking to reporters.

    A late-night meeting of moderate-leaning members Wednesday broke up without resolution or a deal as most lawmakers left out of side exits and avoided talking to reporters.

  • Obama health law's 'essential benefits' may be in jeopardy

    Obama health law's 'essential benefits' may be in jeopardy

    Thursday, March 23 2017 5:09 AM EDT2017-03-23 09:09:16 GMT
    Thursday, March 23 2017 5:09 AM EDT2017-03-23 09:09:16 GMT

    The ACA's "essential benefits" include emergency services, maternity care, mental health and substance abuse treatment, prescription drugs, diagnostic tests, preventive services and pediatric care.

    The ACA's "essential benefits" include emergency services, maternity care, mental health and substance abuse treatment, prescription drugs, diagnostic tests, preventive services and pediatric care.

Powered by Frankly