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05/10/09
Efforts to bring back housing market attracting new scams
Filed under: General, Mortgages
Posted by: Lillian Wong @ 4:21 pm

Faulty oversight and outright scams helped send the housing market into a tailspin. Efforts to bring the market back are attracting new scams.

Loan modifications to fight foreclosures are the backbone of the federal housing plan announced in February by President Barack Obama during a stop in Mesa. In a loan modification, a lender and homeowner work out a deal to cut interest rates and even principal on mortgages of homes in danger of foreclosure.  more…


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