Your mortgage rate will increase: With the five-year anniversary of the federal government's Home Affordable Modification
Program coming up, home owners who received loan modifications through the program should expect to face a mortgage-rate increase soon. The interest rate will increase annually by a maximum of 1 percent per year until it reaches a "cap" rate that was set as part of the modification agreement. The payment changes are set to take place to many borrowers' accounts by April 1. Learn more
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