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NEW YORK, Feb 3 (Reuters) – A group of influential mortgage investors is intensifying efforts to encourage a new phase to U.S. housing stability plans that would give homeowners ability and incentive to pay their loans.
Proposals from a coalition led by Fortress Investment Group address the problem of “underwater” loans, whose high balances relative to fallen home values have to many investors become the chief threat to U.S. housing stability.
Central to plans pitched this week to U.S. House Financial Services Committee Chairman Barney Frank is a controversial way to deal with secondary loans that homeowners piled on during the housing boom.
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