Refinance mortgage, the basic primer
Consumers who receive mortgage adjustments may also receive incentives for making their payments on time. The government will give lenders monetary incentives for modified loans, as well as for those customers who keep their mortgages in good standing. There will need to be proof that consumers will realistically be able to make their payments if their mortgages are adjusted. Modifications will not be offered to those who clearly will not be able to afford a mortgage, regardless of adjustments. Those homeowners who have jumbo loans do not qualify for home mortgage adjustments under the current housing aid plan.