Bookmark this site
WASHINGTON (AP) — The Obama administration is considering spending taxpayer dollars to lower mortgage rates for borrowers on the verge of foreclosure, according to two people briefed on the plan.
The details of the government’s plan were not final. But they are expected to be unveiled in the coming weeks as part of a plan to spend $50 billion on foreclosure prevention and establish national standards for modifying home loans.
Those briefed on the plan spoke on condition of anonymity because the details were not yet complete.
From the AP
