Was Your Fannie Mae or Freddie Mac Loan Bought By MTGLQ Investors?
- In December 2017, MTGLQ purchased $1.23 Billion in non-performing loans from Fannie Mae.
- In March 2018, MTGLQ purchased $116.4 Million in non-performing loans from Freddie Mac.
Why is MTGLQ buying all of these loans?
MTGLQ, a subsidiary of Goldman Sachs, has a history of buying non-performing loans in order to pay off billions of dollars in fines Goldman Sachs incurred in a settlement with the US Justice Department in 2016. Goldman Sachs, through MTGLQ, buys pools of delinquent loans, modifies them by offering principal reduction loan modifications, and sells them for a profit once the homeowner is making regular payments again.
What Does This Mean For Me?
If your Fannie Mae or Freddie Mac loan was bought by MTGLQ Investors, you may be eligible for a principal reduction loan modification which will permanently remove, or “forgive,” a portion of your remaining loan balance.
Contact Ira J. Metrick today so we can discuss your situation and help you find out if your loan is eligible for a principal reduction loan modification.