Sentences with phrase «modification plan stay»
Not exact matches
The Associated Press reported that the Obama administration rolled out a new loan modification program Wednesday designed to help up to 9 million borrowers stay in their homes through mortgage refinancing or mortgage loan modification plans to lower mortgage payments each month for the remainder of their loan terms.
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The idea is that if borrowers are eligible for the modification program but are unable to work out a plan to stay in their home, they — and their lenders — have a well - mapped route for executing a short sale or a deed in lieu of foreclosure.