Dennis Norman
By: Dennis Norman
Today Freddie Mac posted a new video on You Tube that shows borrowers that cannot afford their current mortgage payments how to properly approach their lender to see if they qualify for a loan modification under the Making Home Affordable Program, or under one of Freddie Mac’s other workout programs.
According to Freddie Mac lenders are “handling an extraordinary volume of calls from distressed borrowers seeking an Home Affordable Modification” and that borrowers can, by gathering some documents and preparing information in advance they can help the lender understand their financial situation and more quickly determine if the borrower is eligible for a modification.
Related posts:
- Freddie Mac offers loan modification “room service” to help borrowers
- Over 360,000 borrowers have taken advantage of Fed’s Loan Modification Program
- Undercover Investigation Finds Fraud Common Among Mortgage Loan Modification Companies
- Fed’s plan to modify loans to prevent foreclosure shows progress; but only for 12 percent of those eligible
- Fed’s Loan Modification Program resulting in savings of $120 per month for borrowers