A new foreclosure rescue plan from the Office of Thrift Supervision would have lenders reduce mortgage balances, but collect the difference later.
This plan would reduce mortgage balances to the current market values of the homes. Due to falling home prices, many homeowners are now stuck with mortgages that are worth more than the houses themselves... foreclosure protect .
Many homeowner are helplesly watching their house values go down while the cost of their loans skyrockets. What do we do?
Saturday, February 23, 2008
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