Obama’s Loan Modification Program is assistance for borrowers in danger of having their homes foreclosed or for those who dread to default on their mortgage now or in the future. Setting aside $75 billion, the government aims to utilize part of these funds to lenders who participate in the loan modification program. The incentives and dole out for lenders, is to make up for costs and any other losses caused by the mortgage modification.
Originally posted here: Obama’s Loan Modification Program – 2 Percent Rate Available to Homeowners
