How does a home foreclosure change your credit? Fin out in thisfree video. Learn real estate and mortgage tricks and the how to foreclose on a home. Expert: David M. Andersen Bio: David M. Andersen has been working in the mortgage and real estate field for the last 7 years.
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The newly elected President Barack Obama could enact(once he takes office)to federally mandate long term loan modification’s (interest) on behalf of all Americans with ARM Negative (sub-prime/ deferred interest) mortgage loans (the main reason for foreclosures) at a low interest rate (fixed by the Federal Reserve Bank) for 40 & 50 year’s, depending on income. Leaving it up to the bank’s to do this is akin to putting the fox in the hen house to protect them.