Columbia SC Homeowners Get Help With Loan Modifications

CNNMoney Reports, Columbia home owners who are at least 90 days behind on their mortgage payments and have a Fannie Mae or Freddie Mac-backed mortgage may receive an offer from lenders to get their mortgage payments reduced.

Lenders working with the selected Columbia homeowner will reduce a monthly payment by either extending the term of the loan—or by reducing the interest rate. Columbia homeowners could see as much as a $300 difference.

Source: “Thousands of borrowers to get mortgage payments reduced,” CNNMoney (July 1, 2013)