Tuesday, February 3, 2009

Obama’s plans

Obama Foreclosure-Relief Plan May Guarantee Rewritten Loans

The Obama administration is considering government guarantees for home loans modified by their servicers, seeking to stem the record surge of foreclosures that’s hammering U.S. property values. The proposal, which may also have the taxpayer share in the cost of reducing mortgage payments, is aimed at shielding lenders from default after they loosen loan terms for struggling borrowers. Comptroller of the Currency John Dugan, who regulates national banks, said yesterday that “working out the details of it is still something that’s ongoing.”

Posted by 51ck-6-51x @ 01:47 PM (501 views)
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