|
|
Article: ATTORNEY GENERAL ABBOTT URGES TOP LENDERS, LOAN SERVICERS TO ADDRESS GROWING HOUSING CRISIS
- Article from:
- US Fed News Service, Including US State News
- Article date:
- November 6, 2007
CopyrightCopyright © HT Media Ltd. All Rights Reserved. Provided by ProQuest LLC. (Hide copyright information)
|
The Texas Attorney General issued the following news release:
Texas Attorney General Greg Abbott proposed a series of foreclosure prevention measures to four home mortgage lending and residential loan servicing companies. At a meeting convened Monday by the Office of the Attorney General, mortgage 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 increase homeowners' monthly payments nationwide. During yesterday's meeting, Citigroup, HSBC, Wells Fargo and Chase were urged to implement ...