Lawmaker Puts Mortgage Servicers On Notice
Rep. Barney Frank (D-Mass.) is pushing a plan, the FHA Housing Stabilization and Homeownership Retention Act of 2008, that aims to provide a less costly alternative to foreclosure for mortgage lenders.
Under the plan, the borrower and mortgage holder would voluntarily negotiate a deal to reduce the mortgage principal down to a point where the borrower could reasonably...
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