As reported in the LA Times: “UC Irvine law students will travel California this summer to help determine if five giant banks are fulfilling the pledges they made in a $25-billion settlement of foreclosure-abuse investigations.” It’s wonderful to see one of my alma maters involved in such important work.
As part of the Emergency Economic Stabilization Act, the Obama Administration implemented the Home Affordable Refinance Program (HARP). Under HARP, eligible borrowers are entitled to refinance their mortgage at a lower interest rate. The program does not reduce principal, but it does reduce monthly payments. Continue reading