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That is not what you stated in your OP post.
Keep looking...
From your link..this is refinancing help, not foreclosure help of $2K per adult.
And it didn't work out either.
From link:
The new administration plan would permit homeowners to refinance their mortgages into loans backed by the Federal Housing Administration. To qualify, borrowers with privately held mortgages would have to have no more than one delinquency in the six months preceding refinancing.
The $2,000 is not a policy proposal to bail out people in foreclosure. $2,200 is the number that the Administration is scoring as the median tax increase on a middle class family if the middle class tax cuts are not extended.
How about the US Gov open up the Federal Reserve Bank for us to borrow money from at 0 percent interest rates like they do for the big Wall Street Banks. Then we can loan the money to some suckers at 5% to 25%.
Back in February, the feds reached a " landmark" $25B settlement, payable over 3 years, with 5 banks for mortgage fraud. If and any relief would only apply to those mortgages privately held by the 5 banks.
Back in February, the feds reached a " landmark" $25B settlement, payable over 3 years, with 5 banks for mortgage fraud. If and any relief would only apply to those mortgages privately held by the 5 banks.
I have not found anything more recent and it's likely none of the 5 banks have yet to make a payment.
So no money- no more speculation.
The issue though is that there wasn't that much mortgage fraud.
The majority of the foreclosures are linked to job loss or just walking away from upside down properties.
Not to mention the refinancing craze to suck equity out of homes and ARM's etc. which IMO are the responsibility of the person taking the loan.
P.S. Your link is dead.
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