Yesterday, the Treasury Department unveiled plans to include homeowners who have second mortgages or those who are “underwater” and owe more than the value of their home in its Making Home Affordable Program.
In doing so, the Treasury anticipates that it will be able to assist up to 1.5 million homeowners.
The Administration publicized this press release in regards to the program’s expansion. Eligibility guidelines have also been posted on this Web-site.
This article in the Washington Post outlines the guidelines included in the Treasury Department’s plan.
Meanwhile, online journal Smart Money features an article that features NHC Policy Director, Sharon Price.