The remedy fix calls for landing companies to help almost 4 million borrowers by modifying loans so housing payments will be not more than 31% of monthly gross income. Also, homeowners who haven't missed a payment can refinance into lower-interest loans even with little or no equity. This other plan should to help circa 5 million homeowners.
Florida will also benefit from the $75 billion loan modification plan will provide incentives to investors and regular buyers who want to take advantage of the Miami real estate market today.
The government will also subsidize interest rate reductions to get advantage of affordable monthly payments, therefore it will be easier to purchase a home, condo or villa in Miami and Miami Beach!
Contributed by MLR Realty
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