About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

While the government-backed loan modification efforts are indeed up and running, those efforts are not without difficulties still. There was a good article recently over at CNNmoney.com outlining some of those snags. Here are some bits from that article:

Loan servicers are overwhelmed by the flood of applications. Mortgage investors are angry about a congressional bill prohibiting them from suing servicers that modify loans. Foreclosures are rising as unemployment soars.

Nearly three months after President Obama first announced his $75 billion mortgage rescue effort, his administration is still refining the program in hopes of reaching its goal to save 9 million homeowners from foreclosure.

Comments (0) Posted by G.R.A. Admin on Monday, May 18th, 2009


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