USA Today reports this morning that six of the major home lenders have signed on to join the Federal Government in a program called "Project Lifeline". Borrowers with all types of mortgages, not just those with high-cost subprime loans, could now be eligible for help.
The plan will allow seriously overdue homeowners to suspend foreclosures for 30 days while lenders try to work out more affordable loan terms.
More on this plan is expected to be announced by the Treasury Department and the Department of Housing and Urban Development today.
Click here to read the article.
Tuesday, February 12, 2008
"Project Lifeline" To Be Announced Today for Overdue Homeowners
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