Measures to Encourage Homeowners to Stay and Pay
With so many US home owners struggling to pay for their mortgages during this country's current economic downturn the Federal government is looking for other ways to entice mortgage lenders to provide principal forgiveness for underwater howeowners.
Even after Lenders have taken steps such as lowering interest rates to as little as 2% and changing loan terms up to 40 years we are finding some homeowners are not able to make their mortgage payments due to their financial hardship, for homeowners in this situation is where lenders would be encourage to reduce the loan balance.
Owing so much, we see howeowners choosing to just walk away from their financial obligations rather than to continue to struggle making the payments.
Government officials idea is to encourage home owners to stay and continue to pay.
Need help selling you home contact:
Freddy Solis. Capital Region. RealEstate.com Realtors. 703-943-7844 Direct. 703-955-3528 Fax
Real estate site, search properties for sale in Northern VA, houses for sale and information about Fairfax, Bristow Braemar and the Northern Virginia area by Freddy Solis licensed Realtor® in Maryland and Virginia.
No comments:
Post a Comment