Florida Mortgage : Learning Center

The top six financial institutions together with the Federal government established the “Project Lifeline” today.  This project will place a temporary freeze on the foreclosure process for homeowners that are more than 3 months behind on their mortgage payments. 

Although this project only provides a 30 day window for Lenders to renegotiate mortgage terms and help make mortgage payments more affordable;this time, assistance is available to those in almost any type of mortgage as previous government assisted projects helped only sub prime borrowers.

I am not sure negotiations can be accomplished under a 30 day foreclosure freeze window; guess we’ll wait and see. 

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