The Treasury Department is set to revamp its program aimed at helping struggling mortgage holders from falling into foreclosure and losing their homes. The New York Times is reporting that the Obama administration will soon announce changes to the $75 billion Making Home Affordable program, such as reducing the paperwork necessary for borrowers seeking reduced mortgage payments. Banking industry representatives who spoke anonymously to The Times said that Treasury would offer increased assistance to homeowners no longer able to make mortgage payments because their paychecks have shrunk.
Treasury to Revamp Mortgage Assistance
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