Appraising in Delaware, the Blog...

I have read several articles about the current mortgage recovery proposal floating around Washington.  Looks like a $50 billion program that will work to reduce the number of foreclosures.  Banks, anticipating a new plan, have begun to halt foreclosures until March.  From the articles (La times Bloomberg )I have read, here are a few of the early details:

• Possible mortgage payments set at 31% of monthly income.
• $50 Billion already approved
• Possible lowering of principal.

More info should be coming out next week after the President's Day Holiday.

Let's hope it works.