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If you got help from the government in your mortgage loan modification...

is there any stipulation in your paperwork that mandates what percentage you can resell your home for in the future and to whom you can sell it to, and is there a time frame involved. Just curious, Iknow not many have been helped, I was wondering what type of government restrictions were put on your modification if there was any at all.
If you make any profit at all on your home in the future, shouldn't you have to give that profit back to the taxpayers somehow?


Asked by jewjewbee at 11:15 AM on Apr. 15, 2010 in Politics & Current Events

Level 35 (76,199 Credits)
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Answers (3)
  • We looked into home modifications and the only one to benefit from it was the loan companies.


    Answer by tyme4me2day at 4:15 PM on Apr. 15, 2010

  • I am really curious about this too. I haven't heard of any of these modifactions,don't know anyone who has been effected by it . It sounds good but do we know if it is really helping anyone?

    Answer by gertie41 at 11:31 AM on Apr. 15, 2010

  • not sure about modifications, but if you got the first time home buyer you have to stay in the house 3 yrs or give back all the money on your income tax the year you sell the home. Nothing about profits, just return the tax credit amount.

    Answer by Anonymous at 3:07 PM on Apr. 15, 2010