Starting in July, Freddie Mac will make it easier for distressed borrowers who are having trouble meeting their monthly mortgage payments obtain a loan modification.

Called the Streamlined Modification initiative, servicers will proactively offer eligible borrowers refinancing’s similar to a Standard Modification but with less paperwork. Freddie Mac said the Streamlined Modification program will target borrowers who are at least 90 days delinquent on mortgages that are 12 months old.

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