The U.S. Government wanted to helped many of the American citizens that got caught up in the mortgage foreclosures of 2008-present, and the idea of the loan modification was put into place to help anyone who could show hardship.
By showing your inability to pay the hope is that the current holder of the house mortgage will give the homeowner the chance to stop foreclosure.
The government has also agreed to help pay a percentage of the monthly mortgage if a true hardship, and inability to pay the monthly bills is shown.
Hopefully we provide information about who to contact and how to go about the process of getting a loan modification.
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