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Mortgage Loan, California lawmakers urge 120-day foreclosure halt

Posted by James Breen at 13 November 2008 21:58

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Posted under home loan News SAN FRANCISCO (Reuters) - California Democrats who regulate the condition Assembly said on Tuesday they would impulse for a 120-day moratorium on foreclosures after mortgage default notices have been filed, compared with a 90-day reside projected by Gov. Arnold Schwarzenegger. The rival policy will be debated during exclusive meeting of the maintain legislature that Schwarzenegger called [...] Countrywide & Bank of America .. stuffed term.

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The Real Deal gossip that a buyer of a $4.508 million penthouse at the terrifyingly tall Chelsea Stratus on West 24th Street got a mortgage in October for $500, 000 more than the complete grip worth of the apartment. Say wha? "The buyer could tell the level he would be with the money as a construction loan to transform or make out the entity which would in time rise the price of the dwelling, or he could put up substantial funds or other assets such as valid estate as collateral." We ..[More].

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