Borrowers in trouble may get some relief

Several lenders adopt a new set of principles for working with distressed borrowers.

Among the principles are: contacting distressed borrowers promptly to try to work out arrangements; making loans more affordable by reducing rates, changing terms and other means; and providing refinancing at the lowest cost possible for those who are eligible.

May 3, 2007 by Realtor John Wake

About The Author

John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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