Straight Talk – Streamlined Modifications Foreclosure Help
New program that will make it easier and faster for the most at-risk homeowners to modify their mortgages and stay in their homes. The “Streamlined Modification Plan,” or SMP, which is an expansion of what many lenders are already doing, will be implemented by December 15, 2008. The streamlined process will apply to at-risk borrowers who are 90 days or more late on their existing mortgages and whose loans are owned by Freddie Mac, FNMA or participating balance sheet lenders/servicers.