Subprime lenders who fueled the U.S. housing crisis may be reaping benefits from the Obama administrationâ??s Home Loan Modification program, according to a report from the Center for Public Integrity (CPI).
The $75-billion program, dubbed Making Home Affordable, grants taxpayer subsidies to lenders who successfully lower monthly payments for troubled borrowers. However, the study shows, 21 of the top 25 participating lenders were involved in subprime loans, which led to the housing collapse in the first place.
Attempting to sift through mortgage loan modification on your own loan is bad enough. Try to find a private time to sit in silence and thing about your financial goals. Is keeping your home one of them? If so, the administration has created Obama loan modification programs to help. With the help of good loan modification companies you can get your existing mortgage modified to a better interest rate!
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