Fleysher Law Blog

Borrowers in South Florida could get mortgage loan reductions

Nearly 1,500 South Florida borrowers may be eligible for reductions of their outstanding mortgage loan balances under a federal program announced in April. The program is intended to help “underwater” and severely delinquent borrowers whose loans are owned or guaranteed by mortgage companies Fannie Mae or Freddie Mac. The Federal Housing Finance Agency, which oversees Fannie and Freddie, said more than 30,000 borrowers coast-to-coast could qualify. Florida has 6,260 possibly eligible borrowers,

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