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Mortgage Principal Reductions Unlikely
It is being reported today that the Federal Reserve Chairman is calling on lenders to help homeowners facing foreclosure by having them agree to more favorable loan modifications, including reductions in principal. While lenders have sometimes agreed to rate modifications or to revised payment terms, reductions in principal are very rare. I would not expect […]
NY Times Reports That ARMs Are Still Popular Despite Being At Heart Of Mortgage Crisis
/in Foreclosure & Loan Mod Blog /by Scott LaninThe NY Times has an interesting article on ARMs today . . .
Mortgage Principal Reductions Unlikely
/in Foreclosure & Loan Mod Blog /by Scott LaninIt is being reported today that the Federal Reserve Chairman is calling on lenders to help homeowners facing foreclosure by having them agree to more favorable loan modifications, including reductions in principal. While lenders have sometimes agreed to rate modifications or to revised payment terms, reductions in principal are very rare. I would not expect […]