Published April 29, 2009, 07:22 AM
Government expands housing aid plan
The Obama administration said Tuesday it is expanding its plan to stem the housing crisis by of-fering mortgage lenders incentives to lower borrowers’ bills on second mortgages. During the housing boom, mortgages were ex-tended to borrowers with poor credit scores and people who didn’t provide proof of their incomes or assets.
WASHINGTON (AP) — The Obama administration said Tuesday it is expanding its plan to stem the housing crisis by of-fering mortgage lenders incentives to lower borrowers’ bills on second mortgages.
During the housing boom, mortgages were ex-tended to borrowers with poor credit scores and people who didn’t provide proof of their incomes or assets.
Tags: business, government, housing, aid, mortgage
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