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Real Estate & Property Law

: Housing Wire

Treasury Sets Up Second Lien Solution

By DIANA GOLOBAY

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The Treasury Department plans to use $50bn in rescue funds to pay mortgage investors to go along with borrower modifications. Specifically, the Treasury aims to resolve the issue of second lien holders who must agree either to forgive debt or take a smaller financial return on modified loans held in investment, according to Reuters. “It will be a [...]

Full post as published by Housing Wire on April 28, 2009 (boomark / email).

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