Treasury Explores Plan to Help 1 Million U.S. Homeowners Avoid Foreclosure – Bloomberg.
The U.S. Treasury Department is exploring a plan that could help 1 million or more homeowners avoid foreclosure, according to housing market executives.
The proposal is aimed at promoting modifications of delinquent or defaulted home loans, including writedowns of principal, by bringing fresh private capital into the market. It would apply to mortgages that are bundled into mortgage-backed securities not issued by government agencies.