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Washington
Inside Washington (12/18/2007)
* WASHINGTON (12/19/07)--Freddie Mac is using YouTube to warn delinquent homeowners about foreclosure scams. The video warns homeowners about scammers who offer to help them evade foreclosure if they hand over the deeds to their homes. The scammers sell the homes for a profit, pocket the difference, and then charge borrowers rent for staying in the home while a new loan is processed. Because foreclosure notices are public record, it’s easy for scammers to get copies of the notices and contact troubled borrowers, according to the video … * WASHINGTON (12/19/07)--Former Federal Reserve Board Chairman Alan Greenspan said he supports a federal bailout to help subprime borrowers. In an interview with ABC, Greenspan stated that cash from the government is “available” and should be infused to help borrowers (American Banker Dec. 18). Also, the Greenlining Institute met Monday to discuss solutions that would go beyond the Bush administration’s proposed plan to help borrowers. Bob Gnaizda, Greenlining policy director, said he held the meeting because Treasury Secretary Henry Paulson’s plan, which would encourage lenders to freeze starter interest rates on subprime loans for certain borrowers, is not enough. Under Paulson’s plan, most of those in need will not be helped, Gnaizda said …


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