Democratic Congresswoman Doris Matsui of foreclosure-plagued Sacramento has introduced a bill to allow qualified homeowners to get a nine-month "time out" on foreclosure. The bill also gives them an ability to keep making payments at the introductory "teaser" interest rate during that time out.
The bill also authorizes $200 million more for housing counseling nationally, with priority on areas most affected. The news release announcing the bill is here.
A blog about the economy and the Sacramento-area real estate market.
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