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Released: November 30, 2011
A new shot at mortgage relief
Source: Motoko Rich, NY Times (Free Registration)
Like millions of other homeowners, William D. Compton would like to refinance his mortgage so that he pays less each month for his three-bedroom house in Gulf Breeze, Fla. With the savings, he figures he could afford a few extra movies and restaurant dinners or he could buy a new stove and brakes for his car, purchases he has postponed because finances are so tight.
A refinancing program helped Leslie Davidson cut the monthly payments on her home in Pacifica, Calif., by nearly $400.
Although he would appear to be a good candidate, Mr. Compton, 57, has been turned down twice for a federal refinancing program aimed at homeowners like him.
Read Full Article: A new shot at mortgage relief
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