Will Obama’S Mortgage Glitch Fix To Help Borrowers Modify Loans Work?
By Jennifer Franco
Obama is taking plans to fix the alarming foreclosure crisis in America in great lengths. The President already pledged to allocate $75 billion dollars to launch the government’s foreclosure prevention program in the hopes of halting the declining mortgage ownership rate in the country. The main objective of the program is convincing lenders to modify loans of borrowers who are in danger of losing home ownership preservation.
The fund will be used to subsidize bank’s efforts to modify loans. The government sees this not only as an effort to help borrowers survive the skyrocketing mortgage dilemma, but... [Read full article]
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