Sub-Prime Bailout Will Sink State Further Into Debt

Kolb, Brian M.
May 2008
Business Journal (Central New York);5/16/2008, Vol. 22 Issue 20, p40
The author discusses the impact of the Foreclosure Prevention Act of 2008 in enhancing sub-prime mortgage crisis in New York. It reveals that the legislation is comprised of four bills which focus on bailing out homeowners experiencing house foreclosure. The author contends that the move will further increase the debt of the state as well as poses challenges to people for buying homes.


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