Category Archives: Loan Modification

Loan Mod? 21 Questions To Ask

By admin | Published: July 22, 2009
LOAN MODIFICATION and FAQ’s What is a loan modification? A loan modification is when a lender is willing to modify the terms of loan. Typically the lender will temporarily adjust the interest rate, extend the length of the loan, adjust the payments to interest only payments, defer interest on the principle and in some VERY rare instances [...]
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2009 Mortgage Relief Plan

By Kurt Wannebo | Published: February 19, 2009
Who is Eligible? Borrowers must live in their homes and have a loan that is owned or guaranteed by Fannie Mae or Freddie Mac. That means the investor or owner of the note must be Fannie Mae or Freddie Mac, not the company that services the loan, such as Countrywide, Chase, or Aurora (these are loan [...]
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Hope for Homeowners Act of 2008

By Kurt Wannebo | Published: December 16, 2008
Questions and answers about the Hope for Homeowners Act of 2008, signed into law by President Bush 7-30-08 to try to steer as many as 400,000 struggling homeowners away from foreclosure: Q: What exactly will the legislation do? A: It will allow those who qualify to cancel their old mortgage loans and replace them with 30-year fixed-rate [...]
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