by Moe Bedard
The Obama administration’s $75 billion effort to help troubled homeowners avoid foreclosure has hit a stumbling block: a fight over how to aid borrowers who have more than one home loan.
The Treasury Department, scrambling to address the problem, is trying to persuade lenders to forgive or greatly reduce so-called second liens. But that effort has [...]
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by Moe Bedard
While President Obama, Tim Geithner and Ben Bernanke continue to advance plans to improve the economy offering answers about how homeowners, lenders and even judges can modify loans, one important piece of the puzzle is often left out: second mortgages.
Current legislation aimed at incentivizing lenders to modify first mortgages may not be enough to solve [...]
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