Home loans topics explored
Assuming the housing market would not go down, others placed their bets on a home mortgage with a variable interest rate. Even banks and investors thought the real estate market was no longer a risky venture, as mortgages were being repackaged and resold in various forms. When the real estate market began to decline and the credit crisis set in, many consumers, banks and investors found themselves struggling. The Obama Administration has vowed to make the battered housing market a priority. The second week of February, Secretary of Treasury Tim Geithner announced that $50 billion of the stimulus bill would be dedicated to reducing home mortgage foreclosures.