U.S. Considering Mortgage Help for Unemployed

Reuters:

NEW YORK/WASHINGTON (Reuters) - President Barack Obama is mulling new ways to delay foreclosure for jobless homeowners who are unable to keep up with monthly payments, an administration official said on Monday.

The official told Reuters it was reasonable for policymakers to consider options for loan forbearance -- allowing borrowers to delay, defer or skip payments -- that are more effective than those currently available in the private sector.

Read the whole story: Reuters

Comments

[Protea32]

Here is the link. Hope it works.
http://www.jsonline.com/watchdog/watchdogreports/50548282.html

[Samalabear]

Yes, this is madness.

[Protea32]

If any one gets the chance, read the fantasic article in yesterday's Milwaukee Journal-Sentinel (I'll try to post the link). It seems that the mortgage companies feel they're losing too much money on the property taxes and upkeep of foreclosed houses, so they are stopping the process at the 11th hour, or even getting their own foreclosure's 'vacated' by the court after it's been done. Of course, the homeowner has already moved out, under the belief that the bank owns their house, only to be tracked down by the city, who bills them for back taxes, fees and fines for failure to remove snow and/or cut the grass. Strange.

[EvilCartman]

Lenders abandoning foreclosed properties
http://www.jsonline.com/watchdog/watchdogreports/50548282.html