Mortgage Bailout

Posted by Jonathan Kostyra on Saturday, December 1st, 2007 at 10:52am.

A US Treasury Mortgage Bailout Could be Near

Greenville South Carolina Real Estate

Greenville Events Blog

In an effort to stave off more foreclosures and mounting credit concerns, the US Treasury is spearheading an effort to fix or freeze certain adjustable rate mortgages from anywhere between five and ten years before they reset higher.  The Treasury Department is hoping to prevent another wave of foreclosures that could come as may of these adjustable rate mortgages reset in the near future.  

Representatives, law makers, and industry regulators are still working on just which home owners will qualify.  Their efforts are aimed at stopping the housing slump that could eventually drag the US economy down with it. Hopefully the bailout will be significant enough to stop the slide in prices and put confidence back into the end consumers.  

Overall the housing slump has not had any drastic impact on the Greenville SC Real Estate Market .  The market here has been steadied by a strong economy, historically constant appreciation, an award winning downtown, and an overall inviting business and corporate climate.

If you are new to the area and If you would like to search the Grenville MLS for Property, please click on the following link:  Greenville Real Estate and Greenville Homes . You can also search the Greater Greenville area by Google Maps .

Good luck and please call me if you find something that you would like to view: 864-525-0736!

 

+Jonathan Kostyra is an Associate Broker at Carolina Realty Associates Located at 607 Pendleton Street Suite 222 Greenville SC 29601 Jonathan can be reached at: 864-335-8936

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