Skip to content

Foreclosure Help from the Private Sector

December 11, 2008


This is pretty cool. The owner Black Entertainment Television is kicking in to help people out.


Daily Real Estate News December 11, 2008

Black Media Mogul to Aid Foreclosure


Prevention Billionaire Robert L. Johnson, the founder of Black Entertainment Television and owner of the Charlotte Bobcats NBA team, has announced a plan to fight foreclosures.Johnson has committed $1 billion to enable his minority-owned Urban Trust Bank and a new entity, Homeowners First Bank, to create an arrangement that allows loan servicers to pay the monthly loans missed by borrowers while they work out a repayment plan.“Our mission would be to undertake mortgage foreclosure prevention activities such as substantial loan modifications, reducing principal and interest wherever appropriate; and to ensure that such modifications and overall reductions in mortgage payments will result in protecting homeowners from losing their homes to foreclosure,” Johnson said.


Source: PRNewswire (12/10/2008)

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: