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.   

Housing prices saw their biggest drop in 21 years during the final quarter of 2008 according to an article in Business Week 2/24.  With the current volitility, it is important to know what your largest investment is worth.  Call us today (302)424-7550 to schedule a personal appraisal.