The Bush administration along with the Department of Treasury have announced a new plan entitled “Project Life Line” which is aimed at people in risk of foreclosure and offers them the option to freeze the foreclosure process while the loan is renegotiated or refinanced.

This program is only for single family homes who are owner occupied. No effort will be made to help real estate investors who lied on their mortgage applications with stated income products. Project Life Line is meant to help those families or homeowners that are truly in need.

To inquire further on this new project please contact your lender directly or post your questions in our discussion forums.