Feds Announce New Housing Plan to Reduce Number of Foreclosures

In many ways, this plan will help many struggling homeowners. This plan would allow your loan investor or servicer to negotiate with you to reduce your loan payment to 31% of your total monthly income. This 31% includes principal, interest, property taxes and insurance. They can negotiate your interest down to 2% even if you’re topsy turvy in your home value to what you owe. They can also stretch your mortgage timeframe out to 40 years. This could very well make a difference to millions of people. Check this link out!

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