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A whopping $75 billion has been allocated for the new Homeowner Affordability and Stability Plan that was just passed. This program is designed to offer real help to the nearly 9 million homeowners facing financial hardship. Not all borrowers will qualify under the provisions of this new plan, and the loan modification program is based on voluntary lender participation. So who will qualify for this new loan modification plan and which lenders will be participating? Here is some helpful information for interested homeowners.
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