the treasury department: Mortgage industry leaders try alternatives to immediate foreclosure - 03/04/10 08:35 AM
  Seeking options for dealing with the nations increasing foreclosures, industry executives are looking at alternatives that before would have never been considered.
 Citigroup, for example, is now allowing delinquent borrowers who do not qualify or refuse for existing programs to remain in their homes for up to 6 months without demanding payments, before returning the keys, if they maintain the property and leave the premises in good condition.
 Fannie Mae and Freddie Mac have developed programs allowing former homeowners to become renters after a foreclosure.
 The Treasury Department has also jumped in offering lenders $1000.00 in exchange for allowing borrowers to … (2 comments)

 

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