The change that caught the news media’s attention was the one that talked about principal write downs on mortgages. The revision simply said mortgage companies would write down the balance of a mortgage for people facing foreclosure in those instances where the balance of the mortgage was far greater than the value of the home. [...]
In my post on April 1, I talked about the changes to the Making Home Affordable Program the Obama Administration announced on March 26. Principal Write-Downs on Mortgages The change that caught the news media’s attention was the one that talked about principal write downs on mortgages. The revision simply said mortgage companies would write [...]
You probably saw it on the news, heard about it on the radio or read about it on the Internet. On Friday, March 26, the Obama Administration announced revisions to the Making Home Affordable Program. There were actually several. The one that got the most attention was Principal Write Downs on Loans Where Homes Were [...]
