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Washington
Inside Washington (12/05/2008)
* WASHINGTON (12/8/08)—The Bush administration is taking a new look at helping homeowners, after having poured huge amounts of money into financial institutions, reported the Dec. 5 issues of The New York Times. Ben Bernanke, chairman of the Federal Reserve, warned last week that the soaring number of foreclosures was threatening the U.S. economy. He proposed that the government could begin to engineer loan modifications, and suggested more taxpayer money could be used to help people refinance and keep their homes. And the U.S. Treasury is considering a plan to underwrite tens of billions of dollars worth of 30-year, fixed-rate mortgages at very low rates. However, the article noted that the new focus on helping individuals could create rift of bitter feelings between those who want to buy homes and those who already own them…


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