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 Modification News Consumer Economic Protection Act
by Justin Bartlett in July 23rd 2009Tuesday, North Carolina Attorney General Roy Cooper lobbied the state judiciary committee to consider the Consumer Economic Protection Act for homeowners in trouble, which would allow clerks of court to force lenders to take up to 60 days to work out a payment plan with homeowners before foreclosing.
Category: Government Tags: Consumer Economic Protection Act, HUD, Loan Modification, mortgage loan modification, NOD, Notice of Default, Obama, treasury
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