New rules will simplify modifications

03/27/2013 | Wall Street Journal, The

Under a program that begins in July, borrowers 90 days past due who have mortgages backed by Fannie Mae or Freddie Mac no longer have to prove hardship to qualify for a modification. The Federal Housing Finance Agency says it's no longer as concerned about "strategic defaulters" now that home values are beginning to rise, and it has other methods for determining borrowers' ability to pay.

View Full Article in:

Wall Street Journal, The

Published in Briefs: