December 1, 2007

Mortgage industry hashes out rate-freeze plan (Reuters)

A foreclosure sign is seen in Antioch, California November 27, 2007. Mortgage industry executives worked on Saturday to hammer out details of a homeowner rescue plan that would freeze interest rates on some U.S. subprime mortgages for up to seven years, but questions remained over how to avoid investor lawsuits and other legal challenges. (Erin Siegal/Reuters)Reuters – Mortgage industry executives worked
on Saturday to hammer out details of a homeowner rescue plan
that would freeze interest rates on some U.S. subprime
mortgages for up to seven years, but questions remained over
how to avoid investor lawsuits and other legal challenges.

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