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Governor Rell Announces Plan to Help More Homeowners through the CT FAMLIES Program
Governor M. Jodi Rell announced today enhancements to the CT FAMLIES refinancing program to assist more homeowners caught up in the sub-prime mortgage crisis in Connecticut. The changes to the program will allow more homeowners to participate in the program and provide more direct assistance to Connecticut families facing foreclosure.
Governor Rell Unveils $50 Million “CT FAMLIES” Refinancing Program to Assist Subprime Borrowers
Governor M. Jodi Rell today announced “CT FAMLIES” -- a new $50 million refinancing program to address the subprime mortgage crisis in Connecticut. There are approximately 71,000 active sub-prime mortgages in Connecticut and many are delinquent and in danger of default. Approximately 21,000 of these adjustable rate (sub-prime) mortgages are scheduled to reset at much higher rates between October 2007 and December 2009.
