U.S. restructure loans in December

As a result of a sharp fall in real estate prices, millions of Americans turned to the banks more money than you can gain from the sale of their homes taken out a mortgage. Experts estimate that one in five Americans, have initiated mortgages, in this situation, and now the size of its debt exceeds the market value of a home, the purchase of which the loan was granted. We are talking about more than seven million people in the U.S..

According to the "Russian news service", the number of victims could rise to a quarter of all mortgage customers in the event that U.S. real estate prices will fall another 5%. At the same time authoritative agency Standard & Poor's warned that next year we can expect a fall in prices and a 10%.

Now the mortgage crisis continues to complicate the situation in the U.S., and the global financial market. In the tie that Freddie Mac and Fannie May have put forward the idea to limit loan payments to 38% of income Americans, the stability of the market must once again falter. This is due to the fact that Fannie Mae so last quarter loss of $ 29 billion, and the reduction of income from taxpayers on loans, put them in an even more difficult situation. As a consequence, they will again have to ask for support from the national budget, which would be difficult for the U.S. financial system. International stock markets have already reacted to the news index falling U.S..

However, the government did not stop there. Who will take some changes in the legislation that will affect taxpayers mortgages. The changes relate to the fact that the government plans to restructure part of the debt creditors Fredie Mac and Fannie May. It is expected that the legislation will be reviewed in mid-December and will be held at the same time the debt restructuring, people will pay on the loan is less, but the payments are spread over a longer period. However, I must admit that the new law will affect only those taxpayers who have already managed to cover 90 percent of credit. And there are, statistically, less than one-tenth of all borrowers. But at least they will not have to worry about the fate of their homes.

In this series of bank failures, mortgage-related, in the U.S. continues. Recently, on the official website of the Federal Deposit Insurance Corporation (FDIC) of the United States of America has information about the destruction of two U.S. banks - Security Pacific Bank (Los Angeles) and Franklin Bank (Houston). Note that after the failure of all deposit accounts of Security Pacific Bank were transferred to Pacific Western Bank, and Prosperity Bank received the invoice Franklin Bank.

Thus, from the start of the global financial crisis, which grew out of the mortgage crisis in the U.S. market, nineteen credit institutions of the country into bankruptcy. It is interesting that in 2007, only three banks were such a fate. However, as seen in the news, the government is still trying to maintain a policy of maximum loyalty to the borrowers.