The plan, which needs Congress approval, would permit new government loans so borrowers can repay up to 20 percent of the principal they owe on their mortgage, the report said, citing a confidential draft of the proposal.
Though borrowers would not have to make any payments on the Treasury loan for the first five years, they would still be required to pay off the mortgage and loan, the report said.
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Where can I see the actual language of the new proposed law intended to protect distressed homeowners from Foreclosure Fraud??
I am interested in finding out about help to homeowners who are having difficulty with mortgage payments and refinancing for owners who have a ARM or Balloon rate applied to their loans.