Banks are concerned about prime foreclosures.

Illinois offers interest-free down payment loans.

The big news today is that President Barack Obama is proposing sweeping changes to the regulatory system that oversees our financial products and services industry. In addition to expanding the scope of some of the Federal Reserve’s powers to regulate large firms, Obama suggests that a consumer protection agency be created. One of the issues that such a consumer protection agency will oversee is that of home mortgage loans .
The main idea is to have mortgage lenders first offer traditional mortgages to borrowers, and help them find the mortgage that would best fit their situations . The Wall Street Journal …read more