Originally published Tuesday, September 7, 2010 at 11:52 AM
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Summary Box: Plan to help "underwater" borrowers
NEW FORECLOSURE PLAN: The Obama administration is trying to revive its attempts to tackle the foreclosure crisis with a new effort to assist homeowners who owe more on their properties than their homes are worth.
The Associated Press
NEW FORECLOSURE PLAN: The Obama administration is trying to revive its attempts to tackle the foreclosure crisis with a new effort to assist homeowners who owe more on their properties than their homes are worth.
REFINANCED LOANS: The Federal Housing Administration will permit lenders to give borrowers refinanced loans backed by the government. Lenders will be required to forgive at least 10 percent of the mortgage amount.
INVESTORS CHOOSE: Investors who have control over the mortgages as part of their portfolios will select which borrowers are invited to participate.
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