Project Lifeline: Fed's plan to delay foreclosures

This morning, the Fed announced a plan to help homeowners delay foreclosure. For qualified homeowners, Project Lifeline will put the foreclosure process on hold for 30 days while their lender will try to work out a way to make mortgage payments more affordable. Mortgages that were taken out for an investment property or a vacation home will not be covered by the plan, and homeowners will not be covered if they have already entered bancruptcy or if their home is on track for foreclosure within 30 days.

For the full article on Yahoo Finance, click here.

joe

This information has been provided by Joseph Grabowski of Keller Williams Preferred Real Estate of Bucks County

Click here to get pre-approved for a mortgage

Please visit our website Bucks County Real Estate

Providing Real Estate services to the Bucks County communities of Levittown, Fairless Hills, Bristol Boro, Yardley, Bensalem, Newtown, Holland, Langhorne, Morrisville, Croydon, Buckingham, Wrightstown, New Hope, Tullytown, Richboro, Lower Makefield, Upper Makefield, Falls Township, as well as Montgomery County, and Philadelphia county.