Chris Cantell Discusses Markets: Is there any help for stressed homeowners? by Lenka Lehenova

If you needed money to buy some estate, firstly you would revalue your own budget. But when you found out that you don't have enough money for it, you would start to think about mortgage. It is good way how to fulfill our dreams, for example to live in a big house with wonderful garden. Yes, it looks very simple but we all know the principle of loans. If you borrow some money, you will have to pay it off by installments and there are also loan explicit interests. Just this part of mortgage's process could become a problem. In USA housing market is still decreasing. Although the price of estates declined, there is influence of it and shares of Stock Exchange noticed strong losses. Federal Reserve Chairman Ben Bernanke is afraid of dangerous of home foreclosures and on Tuesday he urged lenders to lower the amount of their loans. The problem is that sometimes people borrow more money than they are able to pay back. The result is that numbers of late payments on home mortgage and foreclosures are decreasing. It has bad effect for the national economy and its stability. Bernanke's suggestion to change this unpleasant situation is reduction in amount of the loan for mortgage and other financial companies. Vice-president of Federal Reserve Kohn is anxious about bank's manage and its risk about financial instruments. On Wall Street, nervous investors pulled the Dow Jones industrials down 45.10 points. The housing collapse is also reason of home value which has been dragged down. Homeowners are stressed and frustrated but a number of measures have been offered to help them.

related story: http://news.yahoo.com/s/ap/20080304/ap_on_bi_ge/bernanke_mortgage_crisis;_ylt=ApiXPLxhbxQOjiNH.kYsy16s0NUE

by Lenka Lehenova for PocketNews (http://pocketnews.tv)

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