WaMu Commits up to $2 Billion in Assistance to Help Subprime Borrowers
SEATTLE–(BUSINESS WIRE)–As part of a borrowers' assistance program designed to help WaMu homeowners with subprime mortgage loans stabilize their finances and avoid foreclosure, Washington Mutual today announced a commitment to refinance up to $2 billion in subprime loans at discounted interest rates.
Under the program, WaMu subprime borrowers who remain current on their existing loans and anticipate pending payment increases may apply for new discounted fixed-rate loans or other mortgage products available to them.[tags]subprime loans,real estate bubble,housing bubble[/tags]San Diego Realtor
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Nice to see a big lender helping out. But, was it not these same lenders that helped cause the problem? Los Angeles criminal defense
Hopefully this will be a start for many lenders to help get through this dark time for San Diego real estate. San Diego dentist
Real estate speculators should not be bailed out by the government.
William
San Diego California Medical Studies