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Loan Modification

: Loan Modification & Home Loan News

75% of modified home loans will redefault

By Moe Bedard

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NEW YORK (CNNMoney.com) — Most borrowers who have had their mortgages modified through a government-sponsored program will redefault within 12 months, according to a report released Wednesday. Between 65% and 75% of loans that are modified through the Home Affordable Modification Program but not backed by the federal government are likely to go bad, according to [...]

Full post as published by Loan Modification & Home Loan News on June 17, 2010 (boomark / email).

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