Mortgages and financing will never be the same in the United States.

The governments role in fixing the credit markets and ensuring that the collapse of the housing industry does not happen again in the future could become more clear over the next few weeks.  The role of fixing the ailing credit markets is clearly shifting to the responsibility of the government. The recent involvement by the fed in assisting with the Bear Stearns bailout was the first true sign that the government will need to be involved in keeping the housing market from completely falling apart. There are a number of legislators who want the government to get behind the idea of helping home owners reduce their mortgage balance and refinance into loans that are below their homes value in an effort to help reduce property foreclosures. The regulation of mortgage and finance companies is certain to grow as the responsibility for the housing market mess is place on both mortgage brokers and wall street investment firms. Expect a government sponsored plan to be in effect within the next thirty days..©LowRateMortgage.com 3-28-2008

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