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Loan Modification

: Loan Modification & Home Loan News

Underwater homeowners get help with strings attached

By Moe Bedard

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New guidelines and incentives announced Friday by the Obama administration are designed to encourage banks and investors to reduce principal for borrowers who are “underwater,” or owe more than what the house is worth. The program, like the Obama loan modification program announced a year ago, is voluntary. About 10 percent of 3.4 million eligible borrowers [...]

Full post as published by Loan Modification & Home Loan News on March 30, 2010 (boomark / email).

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