Word: friday
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Under the new plan, unveiled Friday, March 26, banks will be asked to lower the principal loan balance for certain homeowners whose mortgages exceed the value of their homes. The loans would be refinanced as mortgages insured by the Federal Housing Administration (FHA), fully backed by the government. In the past, loan modifications under the $50 billion federal Home Modification Program (HAMP) involved primarily reducing interest rates or lengthening the term of the mortgage, and most did not entail a government guarantee. (See high-end homes that won't sell...
Treasury Assistant Secretary Michael Barr says the principal-reduction program is voluntary, not mandatory, and that there's no guarantee homeowners will not default on the new refinanced loans. "We don't want to be overly optimistic about that," said Barr during a briefing on Friday. "Modifications are hard - they're done for people who are struggling with their mortgage, and so you expect a lot of people not to make it - and a lot of people won't make it." However, he says two-thirds of the people in the government's present loan-modification program are current...
When: 9 - 11 p.m. Friday...
When: 8 - 11 p.m. Friday...
...earlier version of the Mar. 25 post "Weekend Roundup" incorrectly gave the date of the "OH! The 2000s Dance" as Saturday, Mar. 27. In fact, the event is occuring on Friday...