Loan Modification
What is a ‘deed in lieu of foreclosure’?
During this Great Recession, as many as one in five American home owners have found themselves unable to keep up with their monthly mortgage payments. The first line of defense for most of these folks has been to pursue a loan modification. However, since a loan modification is based on the borrowers ability to make [...]
Read Full Post | Make a Comment ( 3 so far )Loan Modification Programs Falling Short
Joelle Berni, a Century 21 M&M and Associates Realtor in Madera, was not surprised to hear this week that more than 40 percent of homeowners applying to the federal Home Affordable Modification Program drop out. The HAMP program, the flagship of several federal loan modification plans, is designed to lower mortgage interest rates to counter [...]
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