NAR Supports Administration Efforts on Rate Freeze as Important Step in Protecting Homeowners
U.S. Newswire, December, 2007
To: REAL ESTATE EDITORS
Contact: Mary Trupo of the National Association of Realtors, 1- 202-383-1007, mtrupo@realtors.org
WASHINGTON, Dec. 6 /PRNewswire-USNewswire/ -- The National Association of Realtors today expressed support of President George W. Bushs efforts to curb the increase in foreclosures due to irresponsible lending practices and complicated mortgage products by allowing modification of certain loans or freezing the interest rates for up to five years.
The dream of homeownership should not turn into a familys worst nightmare, said NAR President Richard Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. As the leading advocate for housing issues, NAR has been working with Congress and the administration to protect homeowners...
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