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Loan Modification

: Loan Modification & Home Loan News

Obama adminstration launches effort to aid troubled borrowers with second mortgages

By Moe Bedard

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WASHINGTON ? The Obama administration is expected to announce Tuesday that it is expanding its plan to stem the housing crisis by offering mortgage lenders incentives to lower borrowers’ bills on second mortgages. During the housing boom, lenders readily gave out “piggyback” second loans that allowed consumers to make small down payments or avoid them entirely. [...]

Full post as published by Loan Modification & Home Loan News on June 22, 2009 (boomark / email).

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