Gov. PHOENIX -- Major lenders in Arizona are agreeing to promote new "workout" arrangements to allow many borrowers to get more favorable mortgage terms. Janet Napolitano says state agencies have reached agreements with lenders consistent with terms of a recently announced federal initiative. Borrowers can stay involved with their mortgage dealings by applying for a mortgage online. With traditional mortgages, lenders may not give out enough information, leaving the borrower practically in the dark throughout the whole process.
