Paulson says finding troubled borrowers early key to stalling foreclosures |
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Published
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Fri, 14 Sep 2007 17:01
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CHICAGO (Thomson Financial) - Treasury Secretary Henry Paulson said finding borrowers who may have trouble paying their mortgages as early as possible is key to ensuring that US homeowners can stay in their homes.'The key ... is to identify as early as possible those homeowners that may be facing problems,' Paulson said in Chicago today. 'If you can't identify them, if they don't work with those who can help them, it's going to be very difficult to have success.'Paulson reiterated that the Bush administration is pursuing several initiatives in order to help borrowers can stay in their homes as many of their mortgage interest rates are reset at higher levels.Paulson said the administration continues to press have ry hard' for legislation modernizing the Federal Housing Administration, and said he hopes Congress can approve a bill that would allow FHA to offer new lending products to consumers.He also said the administration wants temporary tax relief for homeowners facing tax liabilities due to the cancellation of debt on their primary mortgages.pete.kasperowicz@thomson.compik/wash/ajbCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Senate approves 100 mln usd fund to help borrowers pay mortgages 