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Posts Tagged ‘ FDIC ’

FDIC to test principal reduction for underwater borrowers

February 26, 2010
By Slava

The Federal Deposit Insurance Corp. is developing a program to test whether cutting the mortgage balances of distressed borrowers who owe significantly more than their homes are worth is an effective method for saving homeowners from foreclosure. The program would be aimed at a growing population of homeowners who are underwater on their loans, estimated...
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Posted in Mortgage | 8 Comments »

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