How US Bank restructures instead of Foreclosure
Jan.26, 2009 in
Foreclosure Information
US Bank reports that the increase in their restructuring activity has been in 2 areas:
- Rate Resets. These allow people to keep their same rate if they were up for a rate change.
- An FDIC program based on verified income that allows you to extend the term to 40 years and reduce the interest rate down to 3%.
If you are with US Bank, ask about these. If not, still ask and tell them that US Bank is doing this.
Source: Seeking Alpha
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