January 1, 2009
The Wall Street Journal December 31, 2008 Mortgage ‘Cram-Downs’ Loom as Foreclosures Mount By MICHAEL CORKERY Mortgage lenders who wake up Thursday with a New Year’s hangover are likely to face another headache soon: The effort to give bankruptcy judges the power to rewrite mortgages is gaining steam. The banking industry [...]
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November 23, 2008
HOPE for Homeowners plan This FHA program, which took effect Oct. 1, encourages lenders to forgive some of the debt of their borrowers so they can refinance into an FHA-insured loan. It is expected to help 400,000 homeowners. TO QUALIFY: Borrowers do not have to be delinquent on their mortgage. However, they must be [...]
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