The government is offering cash incentives to financial institutions who participate in the program, which will only modify loans that are single dwelling mortgages up to $729,750 that originated before January 1, 2009.  If you have stayed current on your loan, you may be eligible for up to $5,000 dollar of principal reduction, which could greatly affect your monthly payment.  Also, those struggling could see their interest rate moved to as lows as 2%, depending on the unique condition of the loan and the consumer.  The goal is to help both those who have remained current on the loan, as well as though who have fallen behind in payments.  

This is a very big step in the loan modification process and in helping consumers to refinance or modify their loan.  If you have not looked into what options can be done with your current mortgage, contact a representative today to find out what can be done with your loan.  We will continue to keep the most up to date news dealing with all mortgage and loan modification on the site as soon as it becomes available.  Click Here to begin the process of getting your loan modified today!