Refinance home loan and the stuff nobody tells you
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. Homeowners will have to prove that they have the income to support their modified loan payments. Those who appear unable to meet their loan obligations, even after a modification, will not qualify. Consumers that hold jumbo home mortgage loans will not be eligible for loan modifications.