Feds Help Speed Up Your Mortgage Modification. (The Newest Plan)
By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
The latest spin on government-sponsored mortgage modifications, demands that home owners provide an initial package of documents before the first phase of a modification can begin. Paul F. Stillwaggon NJ Estates Real Estate Group March 2010 LINKING THE LATEST TECHNOLOGYTO OLD FASHIONED SERVICE Copyright © 2010 Realty TimesAll Rights Reserved. The newest plan for the ever-evolving Obama Administration's Home Affordable Modification Program (HAMP) also requires lenders (or servicers) to review the documentation and respond with an approval or rejection within 30 days. The new guidance also details how lenders must convert a trial modification to a permanent one Effective June 1, 2010, the new provisions are designed to speed up the process of getting struggling home owners into mortgage m...
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