The minutes of the Federal Reserve's Federal Open Market Committee meeting held October 29 and 30 were released Wednesday. The meeting began with a report from the Manager of the System Open Market Account and included updates on developments within domestic and foreign financial markets.
Simplified Home Loan Modification Program Recently Announced
The Federal Housing Finance Agency (FHFA) recently announced a new, streamlined home loan modification program to help home owners who are behind in their payments or own a home with a mortgage that is under water.
The purpose of the recently announced program continues to focus on helping troubled borrowers avoid foreclosure and stay in their homes.
