The Federal Reserve Bank of New York has a new tool to help homeowners pay their mortgage payments.
The bank is using a digital platform called MoneyTree to track and track-down the “white elephant” tax code that’s hampering their ability to repay their mortgage.
The Federal Reserve said in a statement Tuesday that MoneyTree helps homeowners get out of debt faster and lower their tax bill.
“The Federal Government has invested in MoneyTree, and it helps homeowners in many ways,” the statement read.
“It helps them keep up with their payments, and helps them avoid a lot of red tape and other challenges.
This program helps homeowners reduce their debt and their tax burden, so that they can pay down their debt faster.”
The Federal Deposit Insurance Corporation, which is a government agency, provides a similar service.
It’s a financial institution that oversees mortgages and other consumer loans.
MoneyTree is available to consumers nationwide.
Last month, the Federal Reserve announced it had partnered with Credit Suisse, one of the largest financial services firms in the world, to help consumers track down tax-related tax issues.