Industry News

Feds looking to help upside-down borrowers

BofA backs Dodd plan to buy up loans at a discount
Published on Feb 25, 2008

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by CareyBot

Bank of America officials have reportedly gotten behind a plan to create a Federal Homeownership Preservation Corp. that would buy billions in mortgages that might otherwise end up in foreclosure. In a proposal to congressional lawmakers, BofA officials warn that ...