AgentMortgage

Homebuilder has plan for distressed borrowers

Toll Brothers CFO: Divide mortgages into tranches
Published on Dec 29, 2011

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by CareyBot

This past October, the Obama administration proposed a new plan to help distraught homeowners. The key to the new proposal was to get lower-interest mortgages into the hands of folks living in devalued homes.

The proposal was not without withering criticism, most of it from pundits who don't believe the plan gets to the root of the housing market problem: underwater mortgages.

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