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Lenders Throw Lifeline to Struggling Borrowers

A new plan pauses foreclosure actions while new repayment plans are worked out

By Jim O'Neill, Newser User

Posted Feb 12, 2008 6:58 AM CST

(Newser) – Six top US mortgage lenders will launch a program today aimed at helping at-risk borrowers avoid foreclosure. Aimed at homeowners more than 90 days delinquent on loans, Project Lifeline will forestall foreclosure actions for 30 days while lenders try to work out new payment options,... Read full story »

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Lenders Throw Lifeline to Struggling Borrowers

A new plan pauses foreclosure actions while new repayment plans are worked out

borrowers • housing crisis • subprime crisis • foreclosures

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More Newser Stories

Fannie, Freddie Will Stop Foreclosures Over Holidays

Some 16K affected by pause

Mortgage Insurers Feel Pinch, Pull Back on Loans

As more home loans fail, lenders ask more of beleaguered backers

Squatters, Scammers Move In on Foreclosed Homes

Increasingly, abandoned homes are being used for nefarious activity

Federal Mortgage Plan Not Helping the Neediest: Critics

Only 2K in danger of foreclosure have been able to take advantage, stats show

March Foreclosures Up 57% Over Last Year; Worst Coming

February gains evaporate

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