Freddie Mac will offer a home loan modification program for borrowers
who are ineligible or in default of the HAMP program. This new option The
Standard Modification will set interest rates on the modified loans at 5 percent
and extend the amortization period to 40 years from the time of the
modification; Cash incentives of up to $1,600 per approved home owner will be
paid to lenders.
For additional information about this program please follow the
link: Freddie Offers New Loan Mod
Option,"
Source: "Freddie Offers New Loan Mod Option," NASDAQ
(09/13/11)
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