FDIC to test principal reduction for underwater borrowers
The Federal Deposit Insurance Corp. is developing a program to test whether cutting the mortgage balances of distressed borrowers who owe significantly more than their homes are worth is an effective method for saving homeowners from foreclosure….(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Related posts:
- Reuters: Bank of America to Offer Principal Reduction to Underwater Borrowers
- Loan Servicers Share Principal Reduction Concerns in Congressional Hearing
- New Research on Mortgage Modifications and Principal Reduction
- Treasury Official Says Administration is Working on Principal Reduction Plan
- Obama’s Small Step Toward Principal Reduction
