1 in 4 Fall out of Loan Mod Programs- Most likely ending up as Foreclosures or Short Sales
Treasury reported that nearly one in four homeowners who were offered lower payments under the Obama administration's 15-month-old effort have been weeded out of the program. Many people were removed from the trials because they failed to make payments, didn't provide all the financial documents needed to qualify or were found to be ineligible.....Go to the WSJournal to read the whole article
More Help: Consumer Credit Counseling
If you decide not to do a loan modification and want to try to avoid foreclosure you maybe able to do a short sale. Read more....Click Here...
Information provided by the Greater Las Vegas Association of REALTORS®. Blog Disclaimer-This is a personal blog. All information is provided for informational purposes only and is Not legal advice, consult an attorney or financial expert for legal advice. This is general information and is not intended to provide advice on any specific question or transaction. Parties to any real estate transaction should seek competent legal and/or tax counsel to determine the legal, credit and tax consequences of buying or selling a home.
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