Home Loan Modification Vs FHA Refinancing Programs
The Making Home Affordable plan, in contrast, is not a refinancing program
. Instead, it is a loan modification program, which requires participating lenders to follow a standard procedure to lower homeowner's monthly payments to affordable levels. The plan includes $75 billion of incentives paid out to both lenders and borrowers for successfully modified loans. Modifying loan
Now Pay Close Attention --
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