Underwater Borrowers Get a Lifeline on September 7


Is your home underwater? Do you owe the bank more than it's worth? If so, you may finally be able to get a fixed-rate Federal Housing Administration loan with principal reduction. Available to qualified homeowners on Sept. 7, these new FHA loans require banks to write down at least 10 percent of the unpaid balance of the first mortgage. The program ends Dec. 21, 2012. With as many as 20 million homeowners going underwater by