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U.S. tries to reduce more homeowners' mortgages...

 
By Rachelle Younglai

WASHINGTON | Sat Jun 4, 2011 5:44pm EDT

 

(Reuters) - The Obama administration wants to help more struggling Americans stay in their homes by reducing the amount they owe on their troubled mortgages, a top Treasury official said on Saturday.

 

"We are very definitely trying to facilitate more principal reductions," said Timothy Massad, Treasury's acting assistant secretary for financial stability. "It is a very important piece of the overall solution," he said.

 

The Rest of the Story...

http://www.reuters.com/article/2011/06/04/us-usa-housing-idUSTRE753...

 

 

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Tags: Foreclosure, Illegal, Payments, Reduction, US

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