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Loan Modification

: Loan Modification & Home Loan News

Why are banks slow to offer loan modifications?

By Moe Bedard

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Why do you think that the banks are dragging their feet? Here’s the shocking secret – it’s called a “Shared-Loss” agreement. This agreement is with the FDIC, the government insurer. FDIC has this same agreement with around 50 banks. A couple of years ago a bank would do anything rather than get a foreclosed property [...]

Full post as published by Loan Modification & Home Loan News on January 04, 2010 (boomark / email).

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