Description

As a result of the mortgage crisis beginning in 2006, several programs have been introduced by lenders and/or government agencies to provide homeowners with relief from mortgage obligations that would result in foreclosure and loss of a residence. In a two- to three-page paper.

Describe two mortgage relief programs available to homeowners.

Discuss how each of the two selected mortgage relief programs impact customary foreclosure, short sale, or deed in lieu proceedings.

Discuss the potential for lasting impacts from the two selected mortgage relief programs on not only borrowers and lenders, but also the economy as a whole.

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