Government And Lenders Join Forces To Fight Foreclosures

Posted on By Ricky at 19 February, 2008, 9:53 am

Government leaders and lenders are working together to help to all homeowners at risk of foreclosure, not just those with subprime loans.

A program called Project Lifeline would allow seriously overdue homeowners to suspend foreclosures for 30 days while lenders try to work out more affordable loan terms.

Six of the largest lenders will participate in the plan.

The same banks are taking part in the Hope Now program which was initiated late last year. That plan freezes rates on some high-cost subprime mortgages for five years. Read the story

Category : Industry News

No comments yet.

Leave a comment

Sponsors
Foreclosure.com Find and Compare Real Estate Agents

  • Foreclosure Search

    • State:

  • Categories

wordpress seo