Now, mortgage modifications can include second mortgages not just first mortgages. What’s more, cash incentives are sweetening short-sale deals, both thanks to new efforts by the Obama Administration.

The new efforts give some homeowners a second shot at a home-saving loan modification, especially if they were originally turned down or turned off because the second mortgage (piggy-back, home equity loan or line of credit, etc.) impeded the process.

* Full story available on The Californian