In an attempt to resolve the home mortgage foreclosure crisis, six major home loan lenders are offering to freeze foreclosures
for thirty days. Project Lifeline is the latest response to ever-growing foreclosure rates by “Hope Now”, a government program formed to get a handle on the worst housing debacle in decades. Hope Now consists of a coalition of lenders, investors and non-profit groups that was created in October 2007, to work with the Bush Administration to try and get handle on the sky-rocketing rates of default filings and foreclosures.
Project Lifeline, announced today February 12, 2008, would temporarily stop foreclosure proceedings on homeowners who have fallen seriously behind in their house payments. [Read more →]
Tags: Foreclosure News by Jacky
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