Posts Tagged ‘mortgage modification’

Another Mortgage Mod Failure

More on the futility of mortgage modification programs from the WSJ: A U.S. program that lets mortgage companies refinance “underwater” loans—those for more than a property is worth—if the borrower’s loan balance is cut has received fewer than 300 applications, according to the Federal Housing Administration. Efforts by some states haven’t fared any better. Arizona [...]

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Obama’s Subprime Refinance Program

The Obama administration has decided that more subprime loans are part of the solution to the mortgage crisis. Accordingly, borrowers with eligible mortgages that are up to 125% of the value of the underlying real estate will be eligible for a loan modification. From HousingWire, here are the details: The administration expanded its Home Affordable [...]

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Another Mortgage Modification Proposal – Why?

The Milken Institute is thumping the drum for another mortgage modification program. This one would have the government make mortgage lenders whole and take the burden of negative equity off the shoulders of the homeowner. From the LA Times, here is what they propose: One proposal for a debt-forgiveness program was floated this month by [...]

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