March 17, 2009
Up to 5 million homeowners are expected to be helped stay in their homes under the recently announced Obama Administration’s foreclosure relief plan. Announced March 4, the plan is designed to allow some homeowners to refinance into lower rates (up to 105% of current value which helps those whose value has fallen) or others to [...]
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March 13, 2009
If any home owner is considering a Loan Modification, Short Sale or other alternative to foreclosure which involves the bank making some form of concession, it is usually necessary for the home owner to be able to demonstrate a valid hardship.
The Distressed Property Institute defines an acceptable hardship as:
A material change in the financial situation [...]
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