|
Chicago Tonight on Channel 11 had a good story tonight about Shore Bank's Rescue Loan preogram, to help 10,000 families survive mortgage rate adjustments. The bank is trying to make a profit while being socially aware. They are turning the high rate adjustables into 30-year fixed at 6 3/4%. AS one bank employee commented, the program helps more than the borrowers, as neighborhoods decline for all when houses stand empty.
They expect the mortgage crunch to go on for a while yet.
So I guess Hammond has the same sort of problems. However, I haven't heard of any Shore Banks coming to the rescue.
_________________
"The truth, the whole truth and nothing but the truth."
_________________
|
Login
FAQ
Search
