One of the information sources we subscribe to is Inman News. Its a great real estate news site with loads of information. An article in today's feed caught our eye. It has to do with the Federal Government backed loan modification program. What was interesting is what they called The Ticking Time Bomb.
Most people are not aware of a balloon payment often added to the back side of your loan after modification. Isn't there is always a hook with a government back program?
Rather than summarize the article by noted columnist Marcie Geffner, we thought we'd just give you a link. If you or someone you know is considering loan modification, this is am important read... don't pass it up!!
Here is a link the the Inman News article on loan modifications.
If you have any question or need a referral to an honest loan modification specialist, please let us know. In addition, we wrote an article on the subject you may want to read as well. Below is a link to our article on loan modifications.
Loan Modifications... what they are and how to do them.
Hope you have a great day and thanks for spending time at Urban LIfe. Come back often to see what's new on the real estate front.
Gene Urban
The Urban Team at Realty Executives
602-234-5777
