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Loan Modification

: Loan Modification & Home Loan News

Are loan modifications forcing homeowners underwater?

By Moe Bedard

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?Servicers routinely capitalize delinquent interest, corporate advances, escrow advances and attorney fees and other foreclosure-related fees and expenses into the loan balance when completing a loan modification,? the report says. In other words, the modification process usually allows lenders to tack onto the principal previously missed mortgage payments, as well as other fees incurred during the modification. [...]

Full post as published by Loan Modification & Home Loan News on January 22, 2010 (boomark / email).

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