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foreclosure help: Hope for Borrowers Facing Foreclosures..... - 05/02/08 03:43 PM
It was reported that late Thursday that a key committee in the House Representative passed legislation which would make it possible for borrowers facing foreclosure to get up to $300 billion in federally insured mortgages.
Troubled borrower will have the opportunity to have funds available to them thru the principle provision in the bill in which FHA would guarantee a new loan for them.  This would be available only if their existing lender will agree to accept a short payment or ninety percent of the property value.
In the event the borrower makes any profit off the home once it is sold, then … (1 comments)

 

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