Mortgage giant Freddie Mac announced that it will make a new streamlined loan modification program for delinquent borrowers available now, instead of holding off the launch date to July 1 as originally planned.
Mortgage servicers will be able to offer a streamlined modification to borrowers who are at least 90 days late on their Freddie-owned or guaranteed mortgage. Borrowers cannot be more than 720 days delinquent on their loan, however, to qualify. Also, the loan must be at least a year old. Read More....
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