Foreclosure Crisis update — Barney Frank on CNBC
Congressman Barney Frank appeared today on the Kudlow & Co. Show on CNBC, after passage of his FHA Reform Bill. Unfortunately, I can’t embed the video, so here’s the link:
http://www.cnbc.com/id/15840232?video=734989076
Basically, the House of Representatives passed an FHA reform plan that involved the banks refinancing loans at 85% of the appraised value at the time the home was purchased, and then he Federal Housing Administration buying those loans. The White House has gone on record that they will veto the bill.
So, my Earth-Never article continues to be true….
Oh, and here’s a follow-up video:
http://www.cnbc.com/id/15840232?video=735019653
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