PBS “Now” has more information to help you understand and get help

July 3, 2008

Mortgage makeover: Is there a way to keep desperate homeowners in their houses?

See the entire show online at: http://www.pbs.org/now/shows/426/index.html

Or see the video online as a stream here

The NOW website at www.pbs.org/now offers an interactive map for prospective homeowners looking for financial advice in their community, and a look at where Barack Obama and John McCain stand on the issue of predatory lending practices.

Complete Show Description:
After the subprime mortgage debacle, have we learned that quick-turnaround mortgages to customers with low credit scores are always too good to be true? One enterprising entrepreneur says NO, and he has some success to back it up. This week, NOW on PBS takes a look at the non profit organization “Just Price Solutions” and the man behind it, Brian Cosgrove. Cosgrove created a new mortgage model that, in his view, marries the speed and efficiency of the subprime model to safe lending practices including homeownership counseling and fixed rate mortgages. Cosgrove says the new system helps prevent foreclosures and safely protects individuals from predatory subprime lenders, but not everyone agrees. Some feel home ownership is oversold in America and that this mortgage enterprise is still risky business.

Can Just Price Solutions place and keep people in affordable homes, or is this another cautionary tale in the making? Next on NOW.

This show is part of “Enterprising Ideas,” NOW’s continuing spotlight on social entrepreneurs working to improve the world through self-sustaining innovation.

Here are some more help links from Now

More From NOW:

In Your State: Housing Help

McCain and Obama on Predatory Lending

Help for Homeowners: Tips on Avoiding a Mortgage Nightmare

The Housing Crash Recession: How Did We Get Here?

Related Links:

Nightly Business Report: California Lending

NPR: Marketplace: Nonprofit Gets Around Subprimes

New York Times: Approval Is Near for Bill to Help U.S. Homeowners

Just Price Solutions

HOPE NOW

Neighborhood Housing Services of America: R-Home Initiative

NeighborWorks America

Center for Responsible Lending: Analysis of HR 3915 Mortgage Reform and Anti-Predatory Lending Act

U.S. Senate Committee on Banking, Housing, and Urban Affairs: Dodd, Shelby Announce Housing Bill

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