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Loan Modification

: Loan Modification & Home Loan News

Mortgage principal reductions will not save housing

By Moe Bedard

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In a letter to the CEOs of Bank of America, Wells Fargo, JP Morgan Chase and Citigroup, House Financial Services Committee Chairman Barney Frank wrote, “To save homes on a large scale, we must move past temporary modifications in interest rates or terms and focus on permanent principal reductions that result in truly sustainable mortgages.” I [...]

Full post as published by Loan Modification & Home Loan News on March 11, 2010 (boomark / email).

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