In theory, at least, this can be a win - win - win solution to the problem of underwater homes: Homeowners instantly reduce their monthly payments and begin
building positive equity in their homes; mortgage lenders benefit because above - water homeowners are far less likely to default and the foreclosure process is very expensive for banks; and the process helps speed recovery for the entire economy.
This program doesn't benefit everyone, but if you are at least 62 years old and have
positive equity in your home it may be right for you.
Every day, thousands of homeowners regain
positive equity in their homes.