Orlando Sentinel (FL) (10/02/08); Sarmah, Satta
The proposed federal rescue plan could derail the new Hope for Homeowners program that urges lenders to renegotiate mortgages to curtail foreclosures. The community group ACORN is concerned that the bill would eliminate any incentive for participating lenders if the federal government purchases the mortgages. However, HUD spokesman Lemar Wooley notes that 10 lenders across the country have already signed up for the program.
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