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Post by sierra on Oct 29, 2011 0:05:30 GMT -5
In the first half of the year 2009, there was approximately 1.5 million Homeowners who were subjected to foreclosures. In such a situation, American President reacted to it immediately and passed Loan modification to help owners by extending their loan term and decreasing their monthly payments. I could say this as the best help stretched to the suffering Homeowners. Moreover every bank no has a loan modification section.
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Post by mikeaugustin on Apr 15, 2012 3:06:06 GMT -5
Your information is right. But recently I have read in a statement posted by trulia.com is that "But while the settlement is legally binding, some housing experts predict the efforts may not have the impact government officials expect. For one, borrowers who owe more on their home than it's worth stand to receive a principal reduction of about $20,000 on average , although those same borrowers are underwater by $51,000 on average, according to CoreLogic. " This says that the Government is helpless in Home Loan Modification Scheme.
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Post by jasone on Apr 30, 2012 1:56:16 GMT -5
Thanks for the update man.
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Post by arnoldsimpson14 on Jul 4, 2012 1:10:07 GMT -5
The Government's goal for loan modification plan is to get your monthly payment to a more affordable level. An affordable mortgage payment is typically defined as 31% of the borrower's monthly gross income. Credit reporting agencies | Training videos |
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Post by oddy1113 on Aug 8, 2013 7:23:11 GMT -5
A loan modification is a retooling of your home loan by adjusting the is voluntary but the government is offering incentives for them to participate . The information on this page keep in mind that loan modifications are complicated things . låna snabbt |
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