Can you tell me about the safeguards that the Government ..?

Question

is putting in place for property buyers now to help keep houses out of foreclosure ?

I am planning to purchase my first house soon , but I am in 2 minds due to our declining economy and job losses .

Answer 1

Most of the safeguards being bandied about are for folks already with mortgages and facing foreclosure.  These safeguards will probably be short term, with the idea being that the banks who made risky mortgage loans will clean up their act by placing more stringent restrictions on folks approved for mortgages.  People looking for mortgages going forward will most likely not be covered.