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Govt. Releases Incentives for Second Lien Program


By Karen Sibayan

May 25, 2009

At the end of April, the Obama administration announced modification incentives for second lien loans under the Hope for Homeowners program. Under the new incentives, when a Home Affordable Modification is started on a first lien, servicers that are part of the second lien program will automatically reduce payments on the associated second lien based on pre-set rules.

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