Foreclosure Freeze to Cover Nearly All Borrowers

Project Lifeline to Cover Nearly All Borrowers

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The project offers homeowners who are three months or more in arrears in their mortgage payments 30 additional days to seek help in working out agreements with their lenders and/or servicers in order to avoid foreclosure and save their homes.

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Members of the alliance will begin the process by sending out letters to delinquent homeowners including those with prime, Alt A, and subprime first mortgages as well as second mortgage liens and home equity lines. The 30-day delay will only apply to homeowners who respond to efforts to contact them and begin negotiations to work out their loans.

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Project Lifeline to Cover Nearly All Borrowers

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