$25 billion agreement provides homeowner relief & new protections, stops abuses

http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2012/SettlementFeb92012

“…At least $10 billion will go toward reducing the principal on loans for borrowers who, as of the date of the settlement, are either delinquent or at imminent risk of default and owe more on their mortgages than their homes are worth. At least $3 billion will go toward refinancing loans for borrowers who are current on their mortgages but who owe more on their mortgage than their homes are worth. Borrowers who meet basic criteria will be eligible for the refinancing, which will reduce interest rates for borrowers who are currently paying much higher rates or whose adjustable rate mortgages are due to soon rise to much higher rates”

 

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About homesourcemortgage
Loan Officer

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