Reactions to story from The Washington Post
British Leader Announces Plan to Help Homeowners Avoid Default
http://www.washingtonpost.com/ wp-dyn/ content/ artic...LONDON, Dec. 3 -- Prime Minister Gordon Brown threw a lifeline to people in jeopardy of defaulting on their mortgages, saying Wednesday that homeowners who lose their jobs or suffer a sharp loss in income will be allowed to defer mortgage interest
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Brits take a different tack on housing bailout
http://www.arizonarealestatenotebook.com/2008/12/08/brits-ta...Brits take a different tack on housing bailout by John Wake on December 8, 2008 The U.S. housing bailout focuses on helping the banks. The British housing bailout focuses on helping homeowners while helping the banks. “Hardworking households that experience a redundancy or significant loss of income as a result of the downturn will be able to defer a proportion of their interest payments for up to two years while they get their family finances back on track,” Brown said in the House of Commons. “The result will be more affordable monthly payments for homeowners who are needing a bridge through difficult times.” Brown said eight major British lenders, which represent 70 percent of all outstanding mortgages, have agreed to his plan to stave off massive home repossessions as recession takes hold and job losses mount. Brown did not provide many details of the plan, but analysts said it basically amounts to a government insurance program for mortgage lenders. The BBC reported that the plan will cover people with mortgages of up to 400,000 pounds, or nearly $600,000. [emphasis added] {
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U.K. to Help Homeowners at Risk of Losing Homes
http://californiahomeloan360.com/node/19528U.K. to Help Homeowners at Risk of Losing Homes Posted December 3rd, 2008 by California Home Loan LONDON, Dec. 3 -- Prime Minister Gordon Brown threw a lifeline to people in jeopardy of defaulting on their mortgages, saying Wednesday that homeowners who lose their jobs or suffer a sharp loss in income would be allowed to defer mortgage interest payments for up to two years. Read more
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The Walk
http://normbrainer.wordpress.com/2008/12/03/the-walk/December 3, 2008 Just watching the Queen’s speech now that I had recorded earlier. It was very interesting to compare the walk of the MPs last year to this (or how I remember last year) Last year David Cameron was looking like a leader, walking taller than Brown and explaining to him his ideas (from the looks of it). This year it looked like brown was trying to explain something but DC was having none of it and looked, well… pissed off, and continued to do so throughout the speech - with good reason really. Even the Queen doesn’t look too happy to be reading it out, sighing occaisionally - I think the Duke of Edinburgh got it right when he signalled it should be thrown away. It was much shorter but I think that this points to a late election as they would try to cram lots in if it was the end - plus with the 2 year mortgage trick that brown has pulled out of the hat to try and take the pressure of the speaker this afternoon. Speaking of which, the Speaker has admitted that he was negligent and didn’t ask for a warrant so he has to go, for the good of democracy - I’m sure there will be many people who won’t write to their MP on important matters until they are sure he has gone. I think he has acted very disgracefully in trying to palm off his mistakes onto his Serjeant at arms and claimingit was all the police’s fault for not telling her that she didn’t have to sign a consent form, and trying to prettymuch hide that he knew about it the night before and did nothing and said nothing about it, including not giving any advice to Jill Pay. The Serjeant at arms should also go, but gracefully - She’s not up to the job and it was wrong of Martin to put her in that position. Some updates at: http://ge2009.co.uk Possibly related posts: (automatically generated)goodbye 2006Brown’s poor speech a reflection of the man, his politics, his cynicismGordon looks for that elusive boostU.K. to Help Homeowners at Risk of Losing Homes Entry Filed under: Uncategorized. .
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