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VOL. 123 | NO. 223 | Thursday, November 13, 2008

Gov't Considers Changes to Mortgage Program

By ALAN ZIBEL | AP Real Estate Writer

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WASHINGTON (AP) - The government may allow more borrowers to qualify for a $300 billion program designed to let troubled homeowners swap risky loans for more affordable ones.

The "Hope for Homeowners" program was launched Oct. 1, but there are concerns that lenders won't participate because they have to voluntarily reduce the value of a loan and take a loss.

Department of Housing and Urban Development Secretary Steve Preston says the government is considering changes to "expand the relevance of that program."

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 307 5,073
MORTGAGES 101 483 6,709
FORECLOSURE NOTICES 22 77 1,556
BUILDING PERMITS 0 720 11,979
BANKRUPTCIES 84 341 5,300
BUSINESS LICENSES 36 125 2,061
UTILITY CONNECTIONS 152 594 7,058
MARRIAGE LICENSES 36 117 1,458

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