(Reuters) - The new fund will aid roughly 1,000 homeowners with subprime mortgages who are up to 60 days behind on their payments refinance into mortgages they can pay off in the next 40 years at a fixed 7.8 percent.
"Too many of our residents were put into loans they could not afford," Gov. Deval Patrick said, adding: "This innovative mortgage loan program will give some of our most vulnerable citizens a fighting chance to keep their homes."
Read more at Reuters.com Bonds News
"Too many of our residents were put into loans they could not afford," Gov. Deval Patrick said, adding: "This innovative mortgage loan program will give some of our most vulnerable citizens a fighting chance to keep their homes."
Read more at Reuters.com Bonds News
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