Finally, lenders are going to have to answer tough questions on not granting loan modifications to homeowners. After a month of being pressured by Treasury and HUD to grant more loan workouts, and still failing to help borrowers modify their mortgages, lenders are going to have to explain to President Obama why so little is [...]
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Loan Modifications Keep Americans In Their Homes
by Justin Bartlett in July 1st 2009Owners of homes worth less than their mortgage loan balance–those so-called “underwater,” “negative equity” or “upside down” homes–are walking away from their properties.
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