Homeowners who are having trouble making their monthly mortgage payments may be able to get some relief by modifying the terms of their loans.The federal government’s Homeowner Affordability and Stability Plan is aimed at owners whose mortgages are backed by Fannie Mae and Freddie Mac, while other individual lenders are offering help as well.But borrowers may have a difficult time determining if they qualify for these programs, in large part because loan-modification guidelines are not always widely available, and busy lenders often have little time to explain them to customers. FICO, formerly known as the Fair Isaac Corporation, which developed the most widely used scores for assessing credit risk, unveiled a Web site this month — MortgageReliefOnline.com — to help these homeowners.
By Bob Tedeshi, April 24, 2009, NYT

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