New foreclosure initiative limited to five states

In Uncategorized on March 3, 2010 at 9:50 am

President Obama’s newly announced $1.5 billion plan to help distressed homeowners is disappointing for two reasons. First, it is limited to five states and does not include Ohio nor Kentucky. Second, it does nothing to compel mortgage companies to modify loans. We’ve seen that incentive payments are not enough to get lenders to really help homeowners.


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