It has the ability to lower monthly payments and provide access to better loan terms for qualified homeowners but isn't always the best solution for everyone. (millennialmoney.com)
The most qualified homeowners who are eligible to receive the lowest advertised interest rate have verifiable income, a low loan - to - value ratio, and strong credit history. (lendedu.com)
The program also allows qualified homeowners to complete a deed - in - lieu. (loanbiz.com)