(Cash Plus Money Loan) New Program Designed to Help Prevent Foreclosures - Inside INdiana Business (press release)
Miller, President & CEO of the Federal Home Loan Bank of Indianapolis (FHLBI), has announced a new $100 million lending initiative, HomeRetain, to help FHLBI financial institution members assist families facing foreclosure. HomeRetain is a part of the FHLBI’s Community Investment Program, a source of wholesale funds for member institutions involved in housing or community economic development activities that benefit low- and moderate-income families or neighborhoods. The FHLBI’s Board of Directors approved HomeRetain, which will offer $100 million split between the states of Indiana and Michigan, that may be used to modify or refinance mortgages for primary residences in any state in which a member does business. FHLBI member institutions, while typically not engaged in the type of lending precipitating some of the foreclosure crisis in other parts of the country, represent a safe harbor for homeowners in need of stable, fixed rate home mortgages. The Federal Home Loan Bank of Indianapolis (FHLBI) is one of 12 regional banks that make up the Federal Home Loan Bank System. Find Out More
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