Florida Foreclosures, Treasury Rolls out Relief for More Homeowners
ON THE WEB:Treasury fact sheet: http://tinyurl.com/qlbn9m
Progress Report: http://www.treas.gov/press/releases/docs/05142009ProgressReport.pdf
Making Home Affordable site: http://www.makinghomeaffordable.gov/about.html
The Obama administration unveiled new programs Thursday designed to make it easier for homeowners who owe far more than their houses are now worth to sell those homes at a loss and have their remaining debt forgiven.
These programs are the latest additions to Making Home Affordable, an evolving $75 billion plan that tries to break the national housing crisis into separate pieces, attacking the problem on several fronts.
The first two legs of the program sought to help borrowers refinance into today's low mortgage rates, or if they're behind on payments, to seek loan modifications to avoid foreclosure.
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