Industry NewsMortgage

New loan mod program aimed at seconds

Changes also proposed for FHA refi program
Published on Apr 28, 2009

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by CareyBot

Saying that half of at-risk mortgages have second liens that complicate the process of modifying them prevent foreclosures, the Obama adminstration today announced the government will share in the cost of lowering payments on second mortgages and provide incentive payments to loan servicers who go along.