Tag Archives: Principal Reduction

The FHFA has determined that borrowers eligible for principal reduction tend to be concentrated in communities across the country that have not yet fully recovered from the foreclosure crisis.

Elyse Cherry, CEO of Boston Community Capital, spoke with DS News about concerns surrounding the FHFA's recently-announced principal reduction program, and what the Agency should do about it.

Why is the FHFA extending its principal reduction program to only 33,000 borrowers when there are three million underwater borrowers nationwide?

FHFA Director Mel Watt last week announced a program offering principal reduction to help delinquent borrowers avoid foreclosure. Will the program affect servicers' bottom lines, and if so, how much?

Schneiderman joins the growing list of those calling for mortgage relief.

On March 22, Mel Watt said the FHFA would make a decision within 30 days on whether or not to offer principal reduction on mortgage loans. Some housing advocates don't want to wait that long, however.

FHFA has been considering the possibility of offering principal reduction to underwater homeowners since long before Mel Watt became Director of the Agency two years ago. Why have they taken so long to make a decision?