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Loan Modification

: Loan Modification & Home Loan News

FDIC?s Sheila Bair Pushing for Mortgage Principal Reductions

By Moe Bedard

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Dec. 3 (Bloomberg) — Federal Deposit Insurance Corp. Chairman Sheila Bair may ask lenders to cut the principal on as much as $45 billion in mortgages acquired from seized banks, expanding her bid to aid homeowners as unemployment rises. The FDIC, which has taken over 124 failed banks this year, may seek to have lenders that [...]

Full post as published by Loan Modification & Home Loan News on December 04, 2009 (boomark / email).

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