White House Mortgage Rescue Plan Expands

WASHINGTON --Treasury Secretary Henry Paulson today announced the expansion of the White House mortgage rescue plan which effectively freezes payments for borrowers who are 90 days behind to allow more time for work-outs with lenders.

By Staff Writer | February 13, 2008 at 05:06 AM

WASHINGTON –Treasury Secretary Henry Paulson today announced the expansion of the White House mortgage rescue plan, which effectively freezes payments for borrowers who are 90 days behind to allow more time for work-outs with lenders.

The nation's top lenders have also agreed to expand the fast track modification plan from subprime borrowers now current on their loans to Alt-A, prime, and subprime borrowers who are 90 days past due.

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