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Saving Distressed Homeowners

The Federal Deposit Insurance Corp. and IndyMac Bank are experimenting with a mortgage modification program that attempts to quickly determine those who can be saved from foreclosure and who cannot. The program may serve as a model for other banks facing waves of foreclosures.

 Saving Distressed Homeowners

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New Model Is Forged In Bank's Wreckage
Article | PASADENA, Calif. -- Inside the stone-and-glass headquarters of IndyMac Federal Bank, regulators are carrying out an experiment that could change the course of the financial crisis by tackling the home foreclosures that are at its root.

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