Modified Mortgage Refinances Continue to Re-default
US bank regulators continue to report escalating re-default rates on mortgage loan modifications. Data being assembled by bank regulators is showing a steady trend of rising month-over-month loan work-outs falling back into delinquency within six months. Read More» |
Loan Modifications may only be a Bandage for Foreclosures
Many critics-especially those who stand to lose money when mortgage restructuring occurs-say that loan modifications may only be delaying inevitable foreclosures. They argue that loan modification can mask problems temporarily, but can't make those troubles go away. Read More» |
Controversy Brews over FDIC Debt and Bank Guarantee Plans
Major banks, including Citigroup, Wells Fargo, JPMorgan Chase, and Bank of America, recently told the government that the FDIC program to back their bonds is not a strong enough guarantee. They want unconditional support; but the FDIC wants a more regulated and controlled bailout. Read More» |
Bank Regulators Reporting Mortgage Loan Modifications Still Defaulting
Bank regulators and congressional leaders are still at a loss on how to help troubled homeowners. A surprising report by the Office of the Comptroller of the Currency (OCC) revealed 51 percent of borrowers receiving modifications to their mortgage loans become delinquent or slip back into... Read More» |
Upside-Down on Your Mortgage? There may be help!
If you owe more on your home than it's worth-in other words, if you have negative equity or are "upside down" in your mortgage-there may still be hope for solving your problem. The options require sacrifice, but could potentially help you avoid greater financial woes. Read More» |