Category Archives: Loan Modification
Mortgage Modifications In The Post-HAMP Era
The government’s Home Affordable Modification Plan went away at the end of 2016, but there are still mortgage modification options available to the vast majority of distressed homeowners. Fannie Mae and Freddie Mac both participate in the Flex Modification plan. The process is much the same. Homeowners must have a documented hardship, like a… Read More »
Loan Modifications in Chicago
Last month the U.S. Department of Housing and Urban Development (HUD) announced that it is awarding $42 million in housing counseling grants to groups across the country, including $890,000 to agencies in Illinois. An article in The Chicago Tribune reports that Open Communities, an advocacy group that provides fair and affordable housing counseling services… Read More »