Last month, the U.S. Congress passed and President Barack Obama signed into law the Helping Families Save Their Homes Act. Gibran Nicholas, chairman of the Certified Mortgage Planning Specialist Institute, an organization that certifies mortgage bankers and brokers, says, "There are five primary sections of the new law that will benefit homeowners and consumers." Here is a brief summary of those changes:

—Benefit No. 1: Loan Modifications and Short Sales Should Get Easi ...

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