Tag Archives: pilot program

Bank Of America Launches Mortgage Principal Reduction Program In Arizona

The HAMP program offers incentives to banks to reduce mortgage principle in those states hardest hit by the mortgage downturn. In other words, the government wants to soften the effects of the free market and to distort the incentives that … Continue reading

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Non-Profits Buying Foreclosures At A Discount

Many non-profit groups are buying foreclosures at a discount before they go on the market for speculators. Redevelopment agencies are working with non-profits to try to revitalize neighborhoods affected by a rash of foreclosures, but their efforts are tiny compared … Continue reading

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