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GERRI Willis, CNN News Leader: “hello. I’m Gerri Willis and this is the OPEN show that it saves money. You will find the latest news on nuclear fusion mortgage. Democratic House of Representatives and the Senate leader the announcement of its plan to prevent, Foreclosures, and President Bush has called for the appointment of a Special Adviser to address the Subprime chaos. One senator called a “national crisis”, while another, compared the loss of houses on the magnitude of Katrina.
And more than in the house, recently introduced a law that requires amendments to the Bankruptcy Act that could save 600000 housing subdivision. And Moodyseconomy.com reports only one percent of Adjustable rate mortgages, higher prices until the end of July, have been modified. This despite the donors most promising to do their part to help combat the owners.
I wanted a more precise about how it will affect you, consumers and industry of the mortgage. Allen Fish leg, the director of housing and credit policy for the Consumer Federation of America, and Kurt Hauer legs Senior Vice President of Government Affairs of the Mortgage Bankers Association in Washington.
Hello to you both.
ALL Fish leg, Consumer Federation of AMERICA: Good morning.
KURT PFOTENHAUER, mortgages BANKERS ASSN: good to be here.
WILLIS: Allen, I would like with you. At this press conference this week with democratic management, very interesting, especially in the notice that Senator Chuck Schumer was just the spring of this year show that in the conversation about how important it is for the Congress, measures to be taken. I say “press conferences”, “hearings”, where is the action?
Fish leg: Well, I think the action has been slow to come, but he hopes now. The crisis seems to continue to deteriorate. More than two million people have their home in danger of losing the partitioning and each day of delay means more people lose their homeland.
WILLIS: I think in some way in the magnitude of 800000 people, most partitioning launched since the Congress debate on this subject and we expect that something happens.
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