Loan Modification Sites » new government program http://www.loanmodificationsites.com Tue, 27 Apr 2010 22:42:25 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Government Set To Announce New Plan To Buy Toxic Debt http://www.loanmodificationsites.com/new-government-plan/ http://www.loanmodificationsites.com/new-government-plan/#comments Tue, 10 Feb 2009 06:41:18 +0000 admin http://www.loanmodificationsites.com/?p=38 Geithner Loan ModificationOn Tuesday, February 10th, Secretary Geithner is set to unveil the new plan to help buy toxic assets from banks in order to build up the strength of their balance sheet. After a few weeks of consideration of different strategies, it seems like the treasury is going to introduce a program where they will encourage private equity to invest in troubled assets to help get them off bank’s books. To help encourage this, the government is offering protection of additional losses in the assets so that if they did continue to fall in price, the investor would be protected. Also, they are planning on allocating anywhere from $50-$100 billion of the remaining $350 billion in TARP funds to assets in foreclosure.

The Treasury thinks that $250-$500 billion of assets could be saved using this process and maybe even up to $1 trillion after the package is expanded. This directly relates to the process of loan modification, as the quicker banks are able to make their balance sheet’s stronger, the quicker and more they are able to assist you in your loan.  Having the Treasury set to put this plan into action this week, we could see big movements in the financial sector that directly effect you and your mortgage.  We here at Loan Modification Sites will keep you up to date on all the news that will enable you to find the best help for your loan.

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