- quote -

Thanks for the info.

There seems to be some inconsistency, though. In a companion document,

http://www.treas.gov/press/releases/reports/
modification_program_guidelines.pdf

there's an eligibility requirement, "The home must be a primary residence
(verified with tax return, credit report, and other documentation such as a
utility bill)." This seems to contradict the newspaper article. Both
treas.gov documents are dated March 4.

Maybe the newspaper article is reporting a policy newer than March 4, or
maybe there's a disagreement in the federal agencies about this issue. Any
opinions?

"triply-redundant" <3r[at]noEmail.invalid> wrote in message
news:Xns9BCFB014AAEEBPJJGFZPLI3r[at]85.214.105.209...
- quote -

Eligibility and Verification

1.. Loans originated on or before January 1, 2009.
2.. First-lien loans on owner-occupied properties with unpaid principal
balance up to $729,750. Higher limits allowed for owner-occupied properties
with 2-4 units.
3.. All borrowers must fully document income, including signed IRS 4506-T,
two most recent pay stubs, and most recent tax return, and must sign an
affidavit of financial hardship.
4.. Property owner occupancy status will be verified through borrower
credit report and other documentation; no investor-owned, vacant, or
condemned properties.
5.. Incentives to lenders and servicers to modify at risk borrowers who
have not yet missed payments when the servicer determines that the borrower
is at imminent risk of default.
6.. Modifications can start from now until December 31, 2012; loans can be
modified only once under the program.
http://www.treas.gov/press/releases/...es_summary.pdf

http://financialstability.gov/

According to today’s newspaper, the special Fannie Mae and Freddie Mac
refinancing help will apply to investment properties and second homes, not
just to owner-occupied primary residences.

Reference:
http://www.latimes.com/business/la-f...,5437082.story

The newspaper article is a bit sketchy. Does anybody have a reference to
the actual policy statement?