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Planning Intermediate: Federal Help to Avoid Foreclosure

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1.
Which of the following can a mortgage modification program NOT do for you?
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Buy your home from you. Modification programs are not involved in buying homes.
2.
Why were mortgage modification programs created?
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All of the above. The federal government created mortgage modification programs for all of these reasons.
3.
Federal programs for homeowners facing foreclosure are available to all homeowners, regardless of their situation.
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False. There are many requirements that homeowners must meet, some of them quite demanding.
4.
How do the federal government programs that help homeowners facing foreclosure typically work?
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They modify the mortgage loans. These programs modify the loans in various ways in order to reduce homeowners' monthly payments.
5.
Mortgage loan modification programs exist to address foreclosures.
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True. The federal government created these programs to help homeowners in trouble.