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Each borrower clicks on the Web page indicating agreement.
Each borrower is thought to support about five family members.
However, total closing costs for each borrower would be about $10,400.
Each borrower gets a loan to start or expand a small business.
Under the settlement, each borrower will receive about $125,000, the largest amount of relief.
In addition, each borrower must take a home-buyer-education class.
Similar(5)
Also, he said, the site charges him less than other Web sites for delivering to him each prospective borrower.
Lenders and brokers say that like so many elements of mortgage borrowing, the lock-in question is rife with nuances that change according to each individual borrower's situation.
The government has also limited the number of mortgages for each individual borrower, raised the down payments for mortgages to as much as 40 percent to protect the banking system from losses and begun experimenting with the introduction of real estate taxes in cities like Chongqing.
While eight consultants are working on behalf of the servicers involved, officials said they had spent months developing a common Web site and call center, as well as common branding and marketing materials, in an effort to make the process equitable for each eligible borrower.
Calculations are also being made to work out compensation entitlement for each former borrower who has already paid off their loans.
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