Fred Harteis News Articles - The Obama administration on Friday announced broad new initiatives to help troubled homeowners, potentially refinancing millions of them into fresh government-backed mortgages with lower payments.
Another element of the program is meant to temporarily reduce the payments of borrowers who are unemployed. Additionally, the government will encourage lenders to write down the value of loans held by borrowers in modification programs to make their mortgages more affordable.
The escalation in aid comes as the administration is under rising pressure from Congress to resolve ... more »
