Big news from Washington hit media today as it seems the Obama administration is working to put together a plan to help subsidize mortgages to help reduce the foreclosure count for homes. Their theory is that by helping to insure certain mortgage back debt, they will instill more confidence in banks and help allow them to start lending more. Just as news hit the public, the stock market shot up in its remaining 45 minutes to almost eliminate an earlier 3% deficit in the Dow.
So how can this help you in your problem to modify your loan? By helping to increase the liquidity of banks and help subsidize exisiting loans, this should help the banks become more cooperative in your loan modification. This will also be a big boost for home re-finances as well as the issuance of completely new loans all together. Most likely, the subsidation from the government will come with strings attached to the banks requiring them to be more cooperative in loan modification and other needs for financing. Click here to get your loan modified today!