SouthCoast lenders point to benefits and remaining questions in mortgage relief plan
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2008-08-22 — southcoasttoday.com
Banks and mortgage companies could save up to $16 billion if they allow the refinancing into mortgages issued by FHA. According to one banking analyst, banks selling their troubled loans to the government will result in a loss of around $25,000, far less than the $64,000 average they could cough up when a home is foreclosed on.
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