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Tag Archives: Loan Modification
Options for People in Underwater Mortgages
Many Americans are making their payments on time, but owe more than their home is worth and are struggling to find relief or refinance. Here are some options for people in underwater mortgages.
Obama Administration Announces HAMP & FHA Enhancements
On March 26th, the Obama Administration announced changes to the HAMP or Home Affordable Modification Program, as well as a new FHA (Federal Housing Administration) program to help stabilize the housing market. These changes are aimed at helping homeowners who owe more on their loans than their home is worth – also known as underwater, to prevent foreclosures and work with lenders to help homeowners keep their homes.
Details of $75 Billion Loan Modification & Refinancing Programs Released
The details of the federal government's $75 billion loan modification plan to were released this morning. According to Housing Secretary Shaun Donovan, the plan will help financially stabilize up to 9 million homeowners.
Government Announces Loan Modification & Foreclosure Prevention Plan
On Tuesday, the Bush Administration laid out a plan to rescue struggling homeowners and put an end to the crippling housing market. The plan is based around the mortgages held by now government-run Fannie Mae and Freddie Mac. The details of the plan are as follows…
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