With so many homes headed to foreclosure Freddie Mac has posted a new video on YouTube to show late-paying borrowers how to speed their efforts to get their mortgage loans modified.
The video, which runs two minutes, shows borrowers which documents they need to make more effective calls to loan servicers.
McLean, Va.-based Freddie Mac (NYSE: FRE) says having the right documents at hand can cut the time needed to determine their eligibility and process their application for a loan modification under President Barack Obama's Making Home Affordable program or Freddie Mac's other workout initiatives.
Available in English and Spanish versions, the new Freddie Mac video — "Stop Foreclosure: Documents Your Lender Needs to Help You" — can see the video clip by clicking below, WARNING: The Video is Shallow, lacks content and is so simple
a caveman could do it.
http://www.youtube.com/FreddieMacWeb
-Christopher Rockey
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2 comments:
Interesting!
The loan modification process can be frustrating and confusing for many distressed homeowners. But you have to know what exactly is loan modification. A loan modification is a permanent change in one or more terms of a borrower's home loan.
Very rare have I seen anything 'permanent' in a loan modification
-CB
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