Freddie Mac Announces: Principal Reductions

Do you know who the investor of your mortgage loan is? Chances are, it is either Fannie Mae or Freddie Mac. Freddie Mac recently revealed that they will consider seriously delinquent homeowners for principal reduction loan modifications. A principal reduction is A decrease in the principal owing on a loan, typically a mortgage, for the purpose of lessening the outstanding principal balance on qualifying properties that have negative equity. Initially, Freddie Mac loans were unable to receive principal reduction modifications, and these loans were given a more streamline modification. Want to know if you qualify for a principal reduction? Call Attorney Gaines today at 678-735-5487 and inquire about a principal reduction, or any type of loan modification!

Leave a Reply

Your email address will not be published. Required fields are marked *