Ocwen Financial Corp. will reduce struggling borrowers’ loan balances by $2 billion in an agreement with federal regulators and 49 states over foreclosure abuses.
Most tax filers are getting a refund after they file their 2012 return. With the average refund running about $3,000, a lot of people will be thinking about what to do with the extra cash.
The number of Americans at risk of foreclosure is declining, as more homeowners climb out of debt and find steady work.
The President is rallying support for his plan to expand government assistance to homeowners, pressuring Congress to help lower lending rates for millions of strapped homeowners.