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Article: ATTORNEY GENERAL ABBOTT URGES TOP LENDERS, LOAN SERVICES TO ADDRESS GROWING HOUSING CRISIS
- Article from:
- US Fed News Service, Including US State News
- Article date:
- October 11, 2007
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The Texas Attorney General issued the following news release:
Texas Attorney General Greg Abbott today proposed a series of foreclosure prevention measures to three of the largest mortgage lending and loan servicing companies. At a meeting convened by the Attorney General, the industry leaders were asked to implement several important measures that are designed to prevent Texans from losing their homes to foreclosure.
By the end of next year, approximately $600 billion worth of subprime adjustable-rate mortgages are expected to reset into higher monthly payments for homeowners across the country. During today's meeting, Attorney General Abbott urged Countrywide Mortgage, Houston-based ...