Home Foreclosure Help

By: Christine Kennedy
By: Christine Kennedy

Facing foreclosure can be one of the toughest things for a homeowner. But there is a new plan to help try and get home owners back on their feet.

Tuesday, the treasury department and the department of housing and urban development announced a plan to help troubled homeowners. It entails suspending foreclosure for 30 days while more affordable loans are pursued.

Bank of America and five other major lenders are involved in the new plan, and a local Realtor says it's a great way to help those who are having a hard time making their payments.

Realtors also say foreclosures can decrease the value of homes in neighborhoods, so anything that can be done to prevent them will not only help out the troubled homeowner but also their neighbors.


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