Community activist group ACORN strikes a deal with the nation's largest mortgage lender, Countrywide that could help struggling homeowners that do not fill requirements of previous foreclosure programs.
The agreement includes sub-prime borrowers with any type of loans--not just adjustable rate mortgages--and borrowers in various stages of mortgage delinquency.
The new program will help borrowers who have strong payment records but hare having trouble making payments by refinancing them into a prime loan or loan modification program offering a rate extension.
Counselors will also work with delinquent borrowers to come up with solutions to help them stay in their homes.