The Mortgage Plan was announced today. An outline of goals and requirement has some people hopeful for help and other looking for a handout. Whether you agree with the plan or the administration (or not), remember it is to help people that need it.

 

As always, there are loopholes in the system and ways to get around it. Just remember, allow those that most need the help to get in line first.

 

Remember, if you could not document your income to get the loan the first time around, be careful to show the proof in your modification request. These are not no income verification mortgages……and how do you know they will not check your old loan application?

Dale Siegel