FEBRUARY 21, 2011
This article highlights loan modification support available through Neighborhood Housing Services of Hamilton, as well as potential strategies for working with lenders on alternatives to foreclosure. Banks have been more willing to offer modifications since they were criticized for their part in the mortgage meltdown, while lenders participating in the Making Home Affordable program are required to consider modifications. The increase in lender cooperation benefits everyone, including lenders who do better under modifications than foreclosure.
SOURCE: Journal News, 2/12/11