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The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
President George W. Bush delivers a statement at the White House regarding the economic rescue plan. Public Law 110-343 (Pub. L. 110–343 (text), 122 Stat. 3765, enacted October 3, 2008) is a US Act of Congress signed into law by U.S. President George W. Bush, which was designed to mitigate the growing financial crisis of the late-2000s by giving relief to so-called "Troubled Assets."
In October 2008, the Swiss National Bank funded a reorganization of UBS that removed bad assets from its books, and later sold its equity stake at a profit. In November 2008, the U.S. government purchased $27 billion of preferred stock in Citigroup, a USA bank with over $2 trillion in assets, and warrants on 4.5% of its common stock. The ...
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The volume of CDS outstanding increased 100-fold from 1998 to 2008, with estimates of the debt covered by CDS contracts, as of November 2008, ranging from US$33 to $47 trillion. Total over-the-counter (OTC) derivative notional value rose to $683 trillion by June 2008, of which about 8% were CDS.
State lawmakers passed the law after a North Texas homeowners’ association barred landlords from renting to Section 8 tenants. Most of the affected tenants in that neighborhood were Black.
By November 2008, there are between $33 and $47 trillion CDS contracts; nobody can know for sure because the market is unregulated and non-transparent. [61] 1999: September: Fannie Mae eases the credit requirements to encourage banks to extend home mortgages to individuals whose credit is not good enough to qualify for conventional loans. [62]
According to Nerdwallet, Texas’ average cost of home insurance is $3,875 per year, or about $323 per month. There are several options for homeowners insurance.