Detailed text transcripts for TV channel - CNN - 20100309:18:28:00
Much less than you paid for the house and that you owe the banks. so, the lender's go to take a hit and agree for you to sell this house at a lower price. here's some of the rules, who is eligible. it needs to be principle residence, first-lien mortgage and you have to be seriously delinquent. here's the rub, ali, so many people have kept up on their loans they didn't even look at you until you were seriously delinquent. the unpaid balance has to be under the adjusted jumbo level, and your monthly mortgage has to be over 31% of your monthly income. it is a the hafa program. >> foreclosure is t...
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