Bush has created a proposal that will freeze interest rates for 5 years on subprime loans to limit the number of foreclosures.  Anyone who got a loan between January 2005 through July 2007 who rate is scheduled to rise between Jan 1, 2008 and Jluy 1, 2010 will have their rate frozen until they can refinance their loan.

Although details are not final yet, it appears it may only apply to owner occupants.  They expect that some payments are expected to rise ove 30% which would cause more foreclosures.  More on the story as we get it.

Our Listing of the Day:

Trump Palace Unit 4504, this luxury high rise features stunning views down the coastline and west views over the intracoastal and city.  Marble floors are in, and the price is only $1,175,000 for this 3 bed, 3.5 bath gem.