Thursday, May 24, 2012
U.S. expanding foreclosure prevention plan
The new measures include incentives to lenders to modify second mortgages and write down balances on first mortgages that are underwater.
The Obama administration, stepping up efforts to stem foreclosures, will offer lenders and homeowners incentives to cut payments on second mortgages, write down balances on first mortgages that are underwater, and repay loans in a timely fashion.
U.S. expanding foreclosure prevention plan
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