Many people who sought help under a federal program created to keep them from losing their homes are instead getting saddled with huge, unexpected bills. Thousands now face a stark choice: Go deeper into debt, or foreclosure. Lenders routinely approved short-term “trial” loan modifications that reduced payments for desperate borrowers under the umbrella of the Obama administration’s Home Affordable Modification Program. But lenders continued to count the mortgages as delinquent or in default.
Mortgage help can turn into disaster
Most Popular Articles
Latest Articles
Indiana senator explains his inquiries into reverse mortgages
Sen. Mike Braun offered insights into his recent letter to Ginnie Mae and the potential need for more scrutiny of the HECM and HMBS programs.