Obama Foreclosure Relief Plan to Get Smaller
The program originally was established to help homeowners who had been severely impacted by unscrupulous mortgage lender practices. Some federal regulators have argued that wrongdoing by lenders was not nearly as widespread as first reported, though many consumer advocates and state officials dispute that.
There also has been something of a public backlash against giving aid to borrowers who purchased homes they could not afford and then fell into foreclosure due to no fault of their lenders.
For more on mortgages and related topics see these AOL Real Estateguides:
- Stop Foreclosure Scammers Before They Scam You
- How to Get a Low Mortgage Rate
- Mortgage Jargon in Simple Terms
- How Much Home Can I Afford?
- How to Buy Foreclosures
- Closing Costs: How Much to Budget
- Guide to Settlement and Escrow