Federal Goverment May Modify Mortgages

Federal Government Plan on Modifying Mortgages

The Federal Reserve is planning to modify mortgages where it holds the loans as collateral for Federal Reserve payments to the lender.

As Fox News reported (the link to the story is at the bottom of this post), homeowners will not know if the Federal Reserve is holding their loan as collateral.  The homeowners will have to wait for the servicing company to contact the homeowner.

If you or a person you know is have problems paying their mortgage this is something to ask them about.

http://www.foxbusiness.com/story/markets/federal-reserve-modify-mortgages/