Facing Foreclosure? New Hampshire wants to give you money
Yet another state has opened its coffers up for those in over their heads with mortgage debt.
AllAmericanPatriots reports:
New Hampshire Governor John Lynch today alerted New Hampshire homeowners who may be at risk of foreclosure to about a new program created by the Federal Reserve Bank of Boston and five New England Banks.
The initiative, called the Mortgage Relief Fund, is intended for homeowners with adjustable rate mortgages due to reset to higher levels in the coming months. The five banks have committed $125 million to the program to allow consumers with adjustable rate mortgages to refinance their loans.
Those unable to get a second mortgage may find this a helpful solution to mortgage debt. One must wonder however what led to a state issuing such a relaxed form of relief for those who least deserve it.
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