The bottom line is that in the world of Real Estate mortgage servicers apply extremely different rules to the world of loan modifications, and the hope is that these guidelines will serve to provide more consistency to the public. I know many people in Northern Virginia who have been foreclosed on that [...] The definition is loose at best and includes such things as ARM payment increase, lost income and increased expenses. The goal here according to the Treasury Department is to prevent the destructive impact of foreclosures on families and communities.
Rockville MD Realtor

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