Government Creates Project Lifeline To Help Get Homeowner Back On Track
The Treasury Department, Urban Development, and the Department of Housing are gathering this week to announce a way to help at risk borrowers who have different types of mortgages (not narrowed down to high cost mortgages and subprime loans) may be eligible for the new Project Lifeline. This project will give homeowners who are seriously overdue a 30 day suspension of a foreclosure for lenders to work out a loan that is more affordable for them.