White House adds details to housing plan

05/15/2009 | Washington Post, The

The Obama administration issued new guidelines for its $75 billion housing program, including a measure that pays incentives to banks for allowing struggling homeowners to sell their houses at a loss instead of foreclosing on the home. The Making Home Affordable program strives to get lenders to modify mortgages to manageable levels but also offers support even when a modification is not possible.

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