My entries focused on refinance mortgage
Although the details of the stimulus bill have not been announced, it is expected that any plan will include assistance for consumers struggling with their mortgage loans and incentives for lending institutions. The Treasury Secretary has said that plans to boost the housing sector must include lowering payments on mortgage loans for those struggling with them. It has long been said that it is more financially beneficial for lending institutions to restructure mortgage loans than to have them go into foreclosure. So the administration has been meeting with banks and housing industry groups to come up with strategies to stem foreclosure rates. Lowering rates for mortgage loans and postponing the principal to the end of the term on loans are some of the suggestions to come out of the meetings.