Archive for November 11th, 2008

How Will Obama Wants to limit Home Foreclosures

Tuesday, November 11th, 2008

Given the severity of the housing crisis and its more significant role in the economy, foreclosure prevention will likely to be a priority for Barack Obama.  On the campaign trail, the president-elect proposed a 90-day moratorium on foreclosures, giving Bankruptcy Court judges the right to provide home loan modifications on primary residences, a $10 billion foreclosure-prevention fund [...]

Citi Plans to Modify $20 billion in Mortgage Loan Relief Effort

Tuesday, November 11th, 2008

A new loan modification program aimed at homeowners who haven’t defaulted yet could help 130,000 mortgage borrowers stay in their homes. Citigroup says it will expand its foreclosure prevention efforts by extending loan work-outs to 130,000 distressed homeowners with $20 billion in mortgage loans in their houses. Banks are unquestionably being pressured to be more [...]