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Home Affordable Modification Program

Under the Obama administration’s Home Affordable Modification Program, the Treasury Department offered lenders up to $75 billion to help them defray the cost of reducing borrowers’ monthly payments to 31% of their incomes. It also enticed loan servicers with $1,000 for each loan modification, plus another $1,000 for each restructured home loan that is still performing after 3 years.  

FOX Video on Loan Modification for Preventing Foreclosures

Read the complete Loan Modification Article > Loan Modification Facts for the Foreclosure Crisis

Posted in Foreclosure Articles, Mortgage News, Published Article, Subprime mortgage news. Tagged with , , , .

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