JPMorgan Chase and Citigroup are halting home foreclosures while the Obama administration develops its plans to help the battered American housing market. JPMorgan’s chief executive, Jamie Dimon, said the bank planned plans to halt new foreclosures for owner-occupied home loans through March 6. Mr. Dimon made the pledge in a letter to Representative Barney Frank, [...]
Entries Tagged as '“mortgage modification”'
JPMorgan Chase and Citigroup are Halting Foreclosures
February 13th, 2009 · No Comments
Tags: "mortgage modification" · Foreclosure Information · Government Bailout
Republicans push for low-rate mortgage in Obama’s stimulus plan
February 4th, 2009 · No Comments
Republican lawmakers want a fiscal stimulus bill of nearly $900 billion to include a provision that would drive down mortgage rates to as low as 4 percent in an effort to jumpstart the moribund housing market. The plan would shave more than a percentage point off the current 5.1 percent rate on a 30-year mortgage, [...]
Tags: "mortgage modification" · Avoiding Foreclosure · Government Bailout
Loan Servicers Get Proactive to Prevent Foreclosures
November 29th, 2008 · No Comments
Now, with the economy in full retreat and the jobless rate rising, borrowers and lenders in areas with previously marginal foreclosure rates are bracing for the worst. As a result, the banking industry has taken pre-emptive measures to help borrowers. The best example is an initiative, announced this month, to help those who took out [...]