Posts with tag second mortgage

In his latest effort to stop the foreclosure tidal wave, President Obama, flanked by Nevada Senator Harry Reid (D), on Friday announced a Plan B for five states hardest hit by the housing crisis: Nevada, Florida, Michigan, California, and Arizona. The president is directing an additional $1.5 billion in aid to the states,... Continue Reading »

Relief for homeowners groaning under the weight of burdensome second mortgages is about to come from an unlikely source: Bank of America, which has been one of the most reluctant of the big lenders to modify first mortgages. After the Obama administration accelerated its efforts to persuade big banks to modify terms on... Continue Reading »