Quote:
| The White House is throwing out a new lifeline to four million Americans trying to hang on to their homes. For people out of a job, the 14 billion dollar plan pays banks to reduce mortgage payments as much as 31 percent of the borrower’s income - including unemployment insurance - for up to six months. The program will also help borrowers who owe more than their home is now worth - By paying Lenders to lower the amount of their mortgage And those homeowners will be eligible for new loans guaranteed by the Federal Housing Administration. |
