Project Lifeline - Not FHA or Convetional.... just another flop?
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
Project Lifeline, what does it all mean?? The Bush administration just announced Project Lifeline on Tuesday the 12th, 2008. This new plan is suppose to be an extension of the previous plans to help homeowners who are having difficulty in keeping up with their payments. The previous plans had strict guidelines to where you basically couldn't be late on your mortgage prior to the rate adjustment on your adjustable rate loan. President Floyd Robinson of Insurance Services Group said, "We want homeowners facing foreclosure to take the urgently required first step and reach out to their servicer, or housing counselor, and get started on a recovery plan. Project Lifeline represents a broad, national approach to looking at each homeowner's situation individually - making sure that we stop...