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Loan Modification

: Mortgage Lender Implode-o-Meter

Two Housing Bills Set to Become Law

By Implode-Explode Heavy Industries

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" The House approved the Helping Families Save Their Homes Act in a 244-3 vote late Tuesday. The legislation providers for a servicer safe harbor from legal action for initiating qualified loss mitigation programs like modifications. It also alters the borrower qualifications for the Federal Housing Administration?s Hope for Homeowners refinance program; mainly, borrowers must certify real need for the program and not default on their existing mortgage intentionally so as to qualify."

Full post as published by Mortgage Lender Implode-o-Meter on May 20, 2009 (boomark / email).

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