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Loan Modification

: The Truth About Mortgage.com

Stated Income Bad for Loan Modifications Too

By scot184

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Just prior to the mortgage crisis, stated income loans ran rampant, and once home prices took a turn for the worse, many of these loans defaulted at a fast clip. Over time, it became clear that stated income was not the best way to measure a borrower’s ability to repay their obligations, especially when guaranteed home [...]

Full post as published by The Truth About Mortgage.com on May 19, 2010 (boomark / email).

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