Countrywide, Non-Profit Partner to Help Homeowners
By Reuters
NEW YORK (Reuters) - Countrywide Financial Corp, the largest U.S. mortgage lender, and non-profit group Neighborhood Assistance Corp. of America say they are partnering to help borrowers stay in their homes.
Under the plan, which aims to stem further worsening of the U.S. housing slump, homeowners would have options including a payment plan, or ways to modify, refinance or restructure their mortgages.
The plan is based on the non-profit group's Home Save approach, which includes individual counseling and developing a budget.
Countrywide and NACA, a community advocacy and homeownership organization, said they would comment on the plan at a news conference on Wednesday.
Published October 24, 2007 09:54 AM