White House to launch its latest mortgage-relief effort

09/7/2010 | MarketWatch · Wall Street Journal, The

The Obama administration is poised today to launch a program aimed at reducing mortgage balances for struggling homeowners who are underwater in their loans. About 11 million borrowers owe more on their houses than the properties are worth, according to CoreLogic data. The latest effort to revive the housing market focuses on homeowners who are current on their payments but at risk of default.

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MarketWatch · Wall Street Journal, The

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