» Loan Modification News http://www.drlawlv.com Las Vegas Loan Modification Wed, 17 Mar 2010 18:54:58 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Loan-Modification Plan Revised to Address Second Mortgages http://www.drlawlv.com/2009/09/09/loan-modification-plan-revised-to-address-second-mortgages/ http://www.drlawlv.com/2009/09/09/loan-modification-plan-revised-to-address-second-mortgages/#comments Wed, 09 Sep 2009 22:24:30 +0000 admin http://drlawlv.com/2009/09/09/loan-modification-plan-revised-to-address-second-mortgages/ In April of 2009, the Obama administration laid out new guidelines for its foreclosure-prevention program, aiming to stabilize the housing market.

Under the revised plan, mortgage-servicing companies that participate in the loan-modification program for second liens must automatically modify the second mortgage when the first mortgage is reworked. The government will share in the cost of reducing the interest rate on second mortgages for five years. As an alternative, it will pay holders of second mortgages to extinguish that debt.
Read More

Share and Enjoy:
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Twitter
  • BlinkList
  • email
  • Faves
  • Fleck
  • LinkedIn
  • MSN Reporter
  • MySpace
  • Propeller
  • RSS
  • StumbleUpon
  • BlogMemes Sp
  • Live
  • Reddit
  • Slashdot
  • Socialogs
  • Technorati
  • Yahoo! Bookmarks
  • Yahoo! Buzz
]]> http://www.drlawlv.com/2009/09/09/loan-modification-plan-revised-to-address-second-mortgages/feed/ 0