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Loan Modification

: Mortgage Lender Implode-o-Meter

Foreclosure fees hurt competition

By Implode-Explode Heavy Industries

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"In a move that will cheer millions of housing loan customers, an investigation report of the Competition Commission of India has favoured scrapping foreclosure charges on housing loans, which it feels obstruct competition in the banking industry. Levying foreclosure fees is both anti-consumer and anti-competitive, a CCI report said."

Full post as published by Mortgage Lender Implode-o-Meter on January 29, 2011 (boomark / email).

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