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Fleysher Law Blog

mortgage loan reductions

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 intention of the program is to help “underwater” and severely delinquent borrowers. That is delinquents whose loans are owned or guaranteed by mortgage companies Fannie Mae or Freddie Mac. Who Qualifies? The Federal Housing Finance Agency, which oversees Fannie and Freddie, said more than 30,000 borrowers

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