New U.S. Treasury Rules Help Homeowners with Loan Modification

According the new U.S. Treasury rules, borrowers that have mortgages below $729,750 (one unit), $934,200 (two units), $1,129,250 (three units) and $1,403,400 (four units) will be eligible for the loan modification program. This new figure allows homeowners with the more expensive homes to qualify under their program. One advantage is the U.S. Treasury Department will match interest rate reduction while writing down the principal so your payments are lower than the 31%. Homeowners benefit from not having their credit score damaged and it helps the homeowner from going into foreclosure.
The <a href="http://360modify.com/loan-modification-services">The Home

Affordable Modification Program</a> Guidelines of March 4, 2009, "borrowers are eligible to receive a Pay-for-Performance Success Payment that goes straight towards reducing the principal balance on the mortgage loan as long as the borrower is current on his or her monthly payments. Borrowers can receive up to $1,000 of Pay-for-Performance Success Payments each year for up to five years."
Another benefit to the borrower is the one-time bonus incentive, where a $1,500 payment incentive is distributed to lender/investors and $500 to service providers. read more in www.360Modify.com

Jon Barrett, MBA, LATAM Services. 360 Modify Inc.,