2009-05-20housingwire.com

" The House approved the Helping Families Save Their Homes Act in a 244-3 vote late Tuesday. The legislation providers for a servicer safe harbor from legal action for initiating qualified loss mitigation programs like modifications. It also alters the borrower qualifications for the Federal Housing Administration’s Hope for Homeowners refinance program; mainly, borrowers must certify real need for the program and not default on their existing mortgage intentionally so as to qualify."


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