Countrywide Financial, Acorn reach US subprime agreement

lunedì 11 febbraio 2008 12:18

Feb 11 (Reuters) - U.S. mortgage lender Countrywide Financial Corp CFC.N and housing advocacy group ACORN said they have reached an agreement to formalize workout programs to help borrowers with all types of subprime loans avoid foreclosure.

The agreement addresses home retention options and procedures for borrowers in various stages of mortgage delinquency, the companies said in a statement. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Deepak Kannan)