New Incentives for Mortgage Modifications

The U.S. Treasury continues to push for homeowner assistance programs. New incentives are now being provided for lenders who agree to modify mortgages with severe home-price deadlines, as well as pursuing “short sales,” which allow the homeowner to sell their property quickly, but for less than the balance owed.

In order to increase anti-foreclosure methods, the government is hoping that these measures will help stabilize the housing market and aid in overall economic recovery.

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