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22:38
Obama's loan modification program
To bolster its effort to reduce foreclosures, today the Obama administration announced new changes to its Home Affordable Modification Program. The proposed measures include allowing unemployed homeowners a three-month break in payments and giving lenders incentives to reduce the principal on delinquent loans. Will the new plan help to keep home foreclosures down?
To bolster its effort to reduce foreclosures, today the Obama administration announced new changes to its Home Affordable Modification Program. The proposed measures include allowing unemployed homeowners a three-month break in payments and giving lenders incentives to reduce the principal on delinquent loans. Will the new plan help to keep home foreclosures down?
Guest:
Richard Green, Director, USC Lusk Center for Real Estate