loan modification: Save that house! Streamlined Modification Program...coming soon - 11/23/08 09:49 PM

There is a new program that will soon be available for delinquent mortgage holders. The program is called Streamlined Modification Program, it is an attempt to help as many as possible to keep their home from foreclosure.  The program will be available to loans owned by Fannie Mae, Freddie Mac, Hope Now and it’s 27 service partners.
The mortgage servicer will work with the homeowner to adjust the monthly payment to be 38% of income.  The monthly payment would be principal + interest  + taxes + (homeowners  insurance, mortgage insurance, homeowner dues, condo dues).
There are several ways that they … (7 comments)

 

Maggie Baumbach

Reisterstown, MD

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