Foreclosure Prevention Plan Expanded to 2nd Mortgages
April 29, 2009 by admin
Filed under 2nd Mortgage, Loan Modification News
The Obama administration unveiled an expansion of its $75 billion foreclosure prevention plan yesterday, providing new subsidies to mortgage lenders and investors.
Under the expanded plan, some homeowners could see their payments fall significantly and the interest rate on their second mortgage pushed down to 1 percent. The announcement comes nearly two months after the administration [...]