Angel R. Hernandez | Source | Vice President - Industry and Regulatory Affairs at Stavvy
Angel R. Hernandez
Angel is an experienced Mortgage-Backed Securities and Mortgage Banking professional with a demonstrated history of success in the financial services industry. He is skilled in public policy, risk management, financial services, regulatory compliance, organizational engineering, and public speaking with a Doctor of Law (J.D.) focused in banking, corporate, finance, and securities law from The Catholic University of America, Columbus School of Law.
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Forty-year loan modification programs have been around and used by Veteran Affairs (VA) and were offered to homeowners after to combat the subprime housing crash in the Hope for Homeowners Program. You take the current loan and re-amortized it up to 480 months or 40 years -— achieving a much lower monthly payment for the homeowner.
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Can 40-year mortgages solve housing affordability?
The use of a longer-term mortgage comes with its own set of drawbacks.
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Stavvy
Vice President - Industry and Regulatory Affairs