Mortgage Payment Bonus For Being On Time 0
Thats right, looks like if you pay your mortgage on time, you get a bonus according to the article I found down below. Read on and see what you think……..
Should Everyone Get Bonus For Paying Mortgage On Time?
Published: Monday, 11 Jul 2011 | 3:23 PM ET
By: Diana Olick
CNBC Real Estate Reporter
At what point is moral hazard trumped by corporate survival and the cold hard need to get people to pay their mortgages? The answer is: Now.
As home values continue to fall and more borrowers fall into a negative equity position on their home loans, those who stand to lose, banks and investors, are working to keep borrowers current.
To date, they have focused on delinquent borrowers, offering loan modifications and foreclosure alternatives, like short sales and deeds in lieu of foreclosure.
Last fall, New Jersey-based Loan Value Group launched a new business model, offering lenders and mortgage investors a way to keep their current, but underwater, borrowers current through cash incentives.
It’s called Responsible Homeowner Reward, and today, one of the nation’s largest mortgage insurers, PMI Mortgage Insurance, joined in.
Here’s how it works………..READ MORE.
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