Posted by Yen Ho
The Treasury Department said yesterday that it has signed contracts with six major mortgage lenders to participate in the Obama administration's $75 billion foreclosure prevention effort.
Together, the lenders could be eligible for up to nearly $10 billion in incentive payments for helping troubled borrowers save their homes by agreeing to lower the payments to affordable levels. The administration has said the program, launched last month, could help as many as 4 million homeowners stay out of foreclosure.
No comments:
Post a Comment