The Making Homes Affordable Program (MHA) has a recent update, announced April 28, 2009 by the White House. The program offers addressing the Second Lien Program and Support for Homeowners.
The Second Lien Program will reach 1 to 1.5 Million Homeowners to reduce loan interest, pay for success incentives and a payment schedule for extinquishing second [...]
Continue reading about President Announces Making Homes Affordable Program Update.
As reported last week, two government agencies are proposing plans to attempt to drive the mortgage rates as low as 4.5%. Both the U.S. Treasury and the Federal Reserve have proposed similar plans to help the housing crisis. The idea is that the increased demand for mortgage backed securities would lower the mortgage rates.
The Florida Association of Realtors today reported that the Bank of America has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes, the Illinois Attorney General’s office said on the 7th of October.
Borrowers stuck with mortgages that they can’t afford could see interest rates reduced or have the [...]
Continue reading about Bank Of America (Countrywide) Settles Lawsuit Over Bad Mortgages
