Long Beach Real Estate-Long Beach Condos

Associated Press reports the Bush administration has allegedly worked out an agreement to freeze certain sub-prime mortgage interest rates for an alleged 5 years to stave off further foreclosures, according to congressional aides who spoke on condition of anonymity (of course).  Another anonymous person (don't ya just love it?) says the freeze will apply to loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.

While this is not written in stone, President Bush is supposed to speak on the agreement at the White House on Thursday. 

We wait........................