Sheila Bair Wants to Protect Foreclosure Victims

sheila bairSheila Bair wants to help rescue the nation's homeowners from the foreclosure disaster. On Wednesday, the chairman of the Federal Deposit Insurance Corp. (FDIC) recommended the formation of a foreclosure claims commission not unlike the one created to aid victims of the oil spill in the Gulf of Mexico in 2010. Bair was speaking at the Mortgage Bankers Association conference in Washington on the future of mortgage servicing when she made the proposal. "The mortgage servicing industry is fundamentally flawed and in desperate need of reform," she said, explaining that homeowners needed protection from improper foreclosures.

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JOE RODRIGUERZ

H E L P ! i AM FALLING BEHIND ON MY SECOND MONTH . I DON'T WANT FORECLOSRE.,, INVESTED 25,000 IN REMODELING. I LOVE MY HOUSE. I HAVE AN INCOME OF 60, K BUT RAN INTO HARDSHIPS. CAN YOU GUIDE ME "

January 20 2011 at 8:58 PM Report abuse rate up rate down Reply