About Government Refinance and Home Purchase Programs

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

It looks like an agreement has been reached on the massive financial bailout and there are reportedly stipulations in the bill that are designed to help struggling homeowners. Details are not yet released but we get this from the recent AP article on the topic:

To help struggling homeowners, the plan would require the government to try renegotiating the bad mortgages it acquires with the aim of lowering borrowers’ monthly payments so they can keep their homes.

But Democrats surrendered other cherished goals: letting judges rewrite bankrupt homeowners’ mortgages and steering any profits gained toward an affordable housing fund.

Comments (0) Posted by G.R.A. Admin on Sunday, September 28th, 2008

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