Relevant:
- New Housing Program Is Aimed at the Unemployed
- Lender Projects More than $1 Billion in HARP 2.0Â Production - Program expansion in October added 4 million borrowers to national pool
- Bush Administration Touts Current FHA Program
- House Puts Making Home Affordable Under the Microscope
- The Scope: JP Morgan Estimates Nearly 9m Mortgages Eligible for New FHA Refinancing
2008-09-10 — time.com
Officials at HUD, Treasury, the FDIC and the Federal Reserve are working feverishly to sort out the fine print of a program that will let the Federal Housing Administration (FHA) insure up to $300 billion of new, fixed-rate mortgages for homeowners who owe more than their house is worth and can't afford their current loan. There's a lot to sort out, considering that a key part of the program is convincing lenders to take a haircut — accept less than what they're owed.
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