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Mortgage Refinance and Loan Modification News and Guides

FDIC, US Treasury to Help Banks Modify Mortgages

November 1st, 2008 · No Comments

The U.S. Treasury Department and Federal Deposit Insurance Corp. are nearing an agreement on a plan that may guarantee as many as three million distressed mortgages, according to a report Thursday by the Washington Post. The plan, which would cost from $40 billion to $50 billion and use funds from the Treasury’s TARP program, would [...]

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Tags: "mortgage modification" · Foreclosure Information · Government Bailout

Project Lifeline Unveiled for Homeowners in Foreclosure

February 12th, 2008 · 1 Comment

Project Lifeline, which allows extra time for lenders and borrowers to try to work out more affordable terms, was unveiled today.
The program would let qualified homeowners who are at least 90 days late on their mortgage payments pause the foreclosure process for 30 days to figure out a way to modify the mortgage.
“Project Lifeline is [...]

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Tags: Avoiding Foreclosure · Foreclosure Information · Mortgage Legislation · Mortgage Refinancing

Breaking: 6 Lenders to Announce Foreclosure Halt Plans on Tuesday

February 11th, 2008 · No Comments

According to the NY Times Bank of America, Citigroup, Countrywide Financial, JPMorgan Chase, Washington Mutual and Wells Fargo are expected to announce on Tuesday at the Treasury Department that they will offer both prime and subprime borrowers who are more than three months behind a chance to halt foreclosure proceedings for 30 days and work [...]

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Tags: Avoiding Foreclosure · Mortgage Refinancing