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Loan Modification

: The Truth About Mortgage.com

Study: Lenders Would Rather Foreclose than Offer Loan Mod

By scot184

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Less than three percent of seriously delinquent mortgages (60+ days overdue) received a payment-reducing loan modification since the mortgage crisis got underway in 2007, according to a new study by the Boston Fed. ?Modifications are often thought to always involve concessions to the borrower, but many, and in some subsets most, modifications involve the capitalization of [...]

Full post as published by The Truth About Mortgage.com on July 08, 2009 (boomark / email).

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