Choose wisely. There is only one correct answer to each question.
0%
Keep studying!
Review your answers below to learn more.
1.
Which of the following can a mortgage modification program NOT do for you?
Buy your home from you. Modification programs are not involved in buying homes.
2.
How do the federal government programs that help homeowners facing foreclosure typically work?
They modify the mortgage loans. These programs modify the loans in various ways in order to reduce homeowners' monthly payments.
3.
Mortgage loan modification programs exist to address foreclosures.
True. The federal government created these programs to help homeowners in trouble.
4.
If you are in foreclosure with your home and a person contacts you with the promise to "save" your home in return for you paying a fee, that person _______.
Is a scammer. Legitimate representatives don't act in this manner.
5.
A mortgage modification program can, in some cases, lower your monthly mortgage payment.
True. Programs differ, but many of them feature lowered monthly payments.