Loan Modification Forum - LoanSafe.org - View Single Post - Modification? Forebearance? I'll Flip a Coin!

Moe Bedard · 01-31-2009, 02:36 PM

Hi Calli09,

Welcome to the forum and thank you for joining.......

The streamlined modification is the only modification that FannieMae as an investor is offering at this time and they are currently only looking at the loans that are 90+ days in default...............hence the forbearance first.............in order to modify an already low fixed rate........the only thing they are able to do is to lower the rate a bit and extend the terms out.
here is the link for the info on this program............

Media: News Releases > Streamlined Modification Program (SMP) Now Available to Borrowers

01-31-2009, 02:36 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Modification? Forebearance? I'll Flip a Coin! Hi Calli09, Welcome to the forum and thank you for joining....... The streamlined modification is the only modification that FannieMae as an investor is offering at this time and they are currently only looking at the loans that are 90+ days in default...............hence the forbearance first.............in order to modify an already low fixed rate........the only thing they are able to do is to lower the rate a bit and extend the terms out. here is the link for the info on this program............ Media: News Releases > Streamlined Modification Program (SMP) Now Available to Borrowers __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.