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Loan Modification

: Mortgage Lender Implode-o-Meter

New $3bn Foreclosure Prevention Program Added to Wall Street Reform Bill

By Implode-Explode Heavy Industries

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"The program would provide $3bn from the Troubled Asset Relief Program (TARP) to lend up to $50,000 to unemployed homeowners, who could reasonably resume making payments again within two years. The program was modeled after the Homeowners? Emergency Mortgage Assistance Program (HEMAP) in Pennsylvania."

Full post as published by Mortgage Lender Implode-o-Meter on May 26, 2010 (boomark / email).

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