The newest proposal to combat foreclosures was recently unveiled in Washington. The plan, named “Help Now,” was proposed by the National Community Reinvestment Coalition (NCRC), a nonprofit community advocacy group. The NCRC, citing several innovative concepts, calls for the government to buy up at-risk loans, restructure the terms to make them affordable and sell the reworked loans back into the secondary market.

Help Now aims to improve upon the efforts of the alliance of lenders, mortgage servicers, non-profit community advocacy groups and investors led by the Bush administration to help troubled borrowers stay in their homes. The NCRC’s proposed Help Now approach will be more effective because it will make it easier for lenders to rework the terms of troubled mortgages.

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