Recently, the Treasury Department began reporting on what percentage of eligible loans have been modified by the big banks. The belief is that this will spur the banks to modify more loans so they won’t be seen as “doing” and “committing” less than their peers. Overall improvement has already been seen with 12% of eligibles [...]
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Mortgage loan modification has become very popular over the past year. Even those who don’t own a home seem to know something about it or have heard the buzz. Homeowners with mortgage loans try to get a modification when they find they can no longer afford the mortgage payment but cannot qualify to refinance. Instead [...]
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