Mortgage Loan Modification – What About a Duplex?
Everyone has been talking about the President’s Mortgage Loan Modification Program. It was introduced in February 2009, and over a million people have received a reworked mortgage and avoided foreclosure. Before the program is discontinued in 2012, it is estimated that 3-4 million people will be assisted.
If you are in default on your mortgage or even just struggling, you may qualify for a loan modification through this program. You might live in a duplex, but you are behind on the mortgage. Would that disqualify you from approval?