GEOFF DORNANgdornan@nevadaappeal.com

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February 7, 2013
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2013 Legislature: Plan would help homeowners refinance, keep their homes

State Business and Industry Director Bruce Breslow urged lawmakers Wednesday to consider a plan for a state-operated nonprofit that would buy up underwater mortgages and enable homeowners to stay in their homes by refinancing at a house's current market value.He said the Home Means Nevada program, which could benefit some 13,000 homeowners, would cut many mortgage payments in half for those people struggling to keep a home now worth far less than what they agreed to pay.Breslow told a subcommittee of the Assembly Ways and Means and Senate Finance committees that the Federal Housing Administration can sell batches of underwater …

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The Nevada Appeal Updated Feb 7, 2013 03:29AM Published Feb 7, 2013 03:28AM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.