At a House Financial Services Committee hearing Thursday, Treasury Secretary Henry Paulson told lawmakers they should send troubled homeowners one simple but urgent message: “Call your lender or mortgage counselor today.” He noted that 50 percent of foreclosures occur without borrowers ever talking to their lenders, and said that he has gotten reports that lenders have tried to reach distressed borrowers to work out more affordable loan terms. “Yet those calls rarely get returned,” he said. Bernanke also warned lawmakers to carefully consider steps they take. In particular, he noted that there are risks associated with one of the proposed remedies: raising the limits on the size of loans that Fannie Mae and Freddie Mac may buy. Jump Start Your Mortgage Career: A Proven Plan For Loan Officers And Mortgage Brokers Who Want To Skyrocket Their Income in 30 Days

click here for article

search for : ,