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Loan Modification

: Loan Modification & Home Loan News

High Default Rate Seen for Modified Mortgages

By Moe Bedard

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Fitch Ratings Ltd. forecasts that most borrowers who get lower mortgage payments under a federal government program will default within 12 months. Among those with loans that aren’t backed by any federal agency, the redefault rate within a year is likely to be 65% to 75% under the Obama administration’s Home Affordable Modification Program, or HAMP, [...]

Full post as published by Loan Modification & Home Loan News on June 16, 2010 (boomark / email).

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