Obama expands foreclosure fix
Two steps: Second liens now covered by modification program; servicers must offer eligible borrowers principal reduction under Hope for Homeowners.
NEW YORK (CNNMoney.com) -- The Obama administration said Tuesday it is expanding its foreclosure prevention program to cover second mortgages and to direct more troubled borrowers to the Hope for Homeowners program.
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12 pct. are behind on mortgage or in foreclosure
NEW YORK – A stunning 48 percent of the nation's homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed. But that's not the worst of it.
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US launches aid program to stem home foreclosures
WASHINGTON (AFP) – The US government Wednesday launched afinancial aid program to help distressed homeowners keep their homes, designed to stem a flood of foreclosures at the center of the country's recession.
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U.S. Sets Big Incentives to Head Off Foreclosures
WASHINGTON — The Obama administration on Wednesday began the most ambitious effort since the 1930s to help troubled homeowners, offering lenders and borrowers big incentives and subsidies to try to stem the wave of foreclosures.
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Foreclosure fix: Obama's options
Administration officials are racing to find a way to use bailout funds to help homeowners. Stopping the foreclosure plague won't be easy.
NEW YORK (CNNMoney.com) -- This much we know -- the Obama administration wants to set aside between $50 billion and $100 billion to address the foreclosure crisis.
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