Government May Subsidize Mortgage Modifications

" President Barack Obama’s administration is reportedly in talks to finalize a mortgage subsidy program geared toward at-risk borrowers not yet delinquent on their loans. Unnamed sources on Thursday told Reuters the plan involves a reappraisal of homes for value and affordability, as part of an examination of homeowners to determine eligibility for the subsidy program. Sources also told Reuters that homeowners would not need to prove hardship to qualify for the program, which would subsidize lenders that lower monthly payments."