Freddie has a new rogram "Standard Modification" This program is for borrowers ineligible for a HAMP modification or may have defaulted on a HAMP or toher modification.
The program is designed to reduce one's mortgage princiapl AND monthly payments by at least 10% each ensuring the [ayments are more affordable.
How do you qualify? Are you 60 days late (past due) or prove you are in imminent danger of default, demonstrate an eligible hardship and provide verification of income. If you tried to modifiy previously you know the requirements: paystubs, bank statements, etc...
Best of Luck!!!
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