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Released: October 19, 2011
Plan would refinance some underwater mortgages
Source: Jim Puzzanghera, L.A.Times (Free Registration)
A proposal to allow some creditworthy homeowners to refinance underwater mortgages has become part of settlement talks between government officials and major banks over botched foreclosure paperwork.
California would be a major beneficiary of such a plan because it leads the nation with 2.1 million mortgages in which the homeowner owes more than the value of the home, according to Santa Ana industry research firm CoreLogic Inc.
Read Full Article: Plan would refinance some underwater mortgages
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