Financial Services Industry
Industry: Email Alert RSS FeedLeagues Team Up With Their States On Foreclosure Relief
Credit Union Journal, The, November, 2007 by Joyce Moed, Reporter
Credit union leagues in two separate states are backing their respective governors' plans to help homeowners keep their homes out of foreclosure.The Pennsylvania Credit Union Association said it supports Gov. Ed Rendell's two new resources to help homeowners across the state keep their homes following the readjustment of rates. Those resources include:
* The REfinance to an Affordable Loan, or REAL program, which offers refinancing to homeowners whose adjustable rate or other subprime mortgage has become unaffordable. By combining 100% financing with flexible credit underwriting, the goal of REAL is provide relief for home homeowners with good credit who cannot otherwise qualify for typical refinance programs. A network of 72 lending institutions will handle REAL program...
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