Foreclosure Avoidance Programs get Facelift

By Jann Swanson

Posted To: MND NewsWire

Three foreclosure prevention initiatives begun in the early years of the housing crisis will receive updates to better reflect the changing needs of distressed homeowners and motivate their continued on-time mortgage payments. The U.S. Departments of Treasury and Housing and Urban Development (HUD) announced the revisions to the three, all of which operate under the joint HUD/Treasury Making Home Affordable (MHA) program. “While the housing sector has strengthened in recent years, there are still many homeowners struggling to make their mortgage payments,” said Secretary of the Treasury Jacob J. Lew. “The changes we are announcing today offer meaningful incentives for borrowers to stay current in their modifications, increase their opportunity to build equity in their homes, and provide vital…(read more)

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