Thursday, June 14, 2012
The 9th District Congressman was in Farmington Hills today to push the Preserving American Homeownership Act, which would reward those who make regular mortgage payments with principal reduction.
If you're making mortgage payments on a home that's "under water," help may be on the way. Congressman Gary Peters (D-9th District) today visited GreenPath Debt Solutions, a Farmington Hills nonprofit, to promote the Preserving American Homeownership Act. The bill, which Peters said has bipartisan support, would help homeowners by reducing the principal on their loans when they make regular payments. "We have people who are struggling to make their payments and are very fearful that they will be losing their home and going into foreclosure," he said. "We know that foreclosure doesn't just impact that family, it impacts that neighborhood." The proposed legislation would allow lenders and loan servicers to reduce the principal on a loan for …
42.495644
-83.426281
GreenPath Debt Solutions
38505 Country Club Dr, Farmington Hills, MI
/articles/bipartisan-legislation-could-help-more-homeowners-avoid-foreclosure-peters-says
706342
/locations/7209992
Tuesday, May 1, 2012
At Wayne State University in Farmington Hills, U.S. Rep. Gary Peters gathers advocates to urge support for legislation that will prevent Stafford loan rates from doubling.
If federally subsidized Stafford student loan rates double this year, thousands of dollars in additional interest may hit Walsh College student MiVida Burrus' family doubly hard. During a news conference Tuesday at Wayne State University Oakland Center in Farmington Hills, the Troy mother of three said her daughter has chosen to follow her example of seeking higher education. Both rely on Stafford loans to cover the cost of tuition. "Raising the interest rate hurts me, and it hurts my family," Burrus said. "It kind of dampens our dreams and keeps us from believing that we can ever reach the goal that we set out, which is to have that degree, to have that job and be a productive society member." The family is, by no means, alone. …
42.4985
-83.38277
Wayne State University-Oakland Center
33737 W 12 Mile Rd, Farmington Hills, MI
/articles/congressman-students-ministers-urge-action-on-student-loan-interest
1526951
/locations/6945508
Tuesday, February 28, 2012
One of the state's high-ranking Democrats says he won't be voting in today's primary.
Michigan Congressman Gary Peters (D-9th District) won't be voting in today's Democratic primary election. Neither will Farmington Hills Mayor Barry Brickner. The two elected officials say there's no reason for them to go to the polls today, because Democrats will be choosing their candidate – President Barack Obama – in statewide caucuses on May 5. And even those won't offer much action. "There's only one person running, so it's going to be a real quickie," Brickner said. Michigan Democratic Party officials passed a resolution earlier this month that allows Democrats to vote in the primary and at their caucuses. In the resolution, officials accused Secretary of State Ruth Johnson of "partisan mischief," confusing voters over a party rule…
dave
12:59 am on Wednesday, July 4, 2012
Herb, your statements about banks clamoring for loans at 12% is true but there is another angle to their motive. These banks were making more on the derivitive end of the mortgage bundling in synthetic default cdo etc... investments and needed more paper to issue these things through their investment sides where they were making huge returns on them until the first signs of true recession hit and… more ›