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Real Estate & Property Law

: Housing Wire

Forget Forbearance; FDIC Eyes Principal Forgiveness

By DIANA GOLOBAY

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[Update 1: adds previous principal forgiveness request by ACORN.] Institutions that acquire failed banks taken over by the Federal Deposit Insurance Corp. (FDIC) may soon be required to cut principal off mortgages instead of simply forbearing a portion until a later day or lowering interest rates, according to comments and FDIC official made to Bloomberg this [...]

Full post as published by Housing Wire on December 04, 2009 (boomark / email).

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