U.S. expands housing aid program
May 21, 2009 by admin
Filed under Positive Real Estate
Banks could get incentive payments for allowing borrowers to sell their homes at a loss rather than go through foreclosure under new guidelines issued Thursday for the Obama administration’s $75-billion housing plan.
The program, known as Making Home Affordable, focuses on paying lenders to modify distressed borrowers’ loans so that payments are cheaper.
http://www.latimes.com/business/la-fi-housing15-2009may15,0,7106579.story
