MoneyWise :: Program will pay homeowners to sell at a loss

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Released: March 08, 2010

Program will pay homeowners to sell at a loss

Source: David Streitfeld, New York Times (Free Registration)

In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.

This latest program, which will allow owners to sell for less than they owe and will give them a little cash to speed them on their way, is one of the administration’s most aggressive attempts to grapple with a problem that has defied solutions.

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