How do I know if my loan servicer is participating in providing one of the Note Modification programs? Are all servicers required to participate?
Participation in these programs is voluntary. However, the government is offering substantial incentives to servicers and investors, and it is expected that most major servicers will participate. Participating servicers will sign a contract with Treasury’s financial agent, through which they agree to review every potentially eligible borrower who calls or writes asking to be considered for the program.
Related Questions
- Im already working with my servicer or a housing counselor on a loan workout. Can I still be considered for a Home Affordable Modification?
- Are all loan types eligible for the Home Affordable Refinance and Home Affordable Modification Programs? What about FHA/VA/USDA loans?
- Are clients required to participate in other programs/ services offered by MCNW to qualify for a loan?
