Daily Archives: January 13, 2009

Summers Endorses Bankruptcy Court Mortgage Modification

DATELINE: WASHINGTON The following is the letter released Monday by Lawrence Summers, director-designate of the National Economic Council for the Office of President-Elect Obama: sent to the leadership of both parties in the House and Senate 3. Launch a Sweeping Effort to Address the Foreclosure Crisis: The President-elect has directed his White House and CabinetContinue Reading

Mortgage Modifications Failing

The voluntary mortgage modifications announced with much fanfare by various mortgage companies are failing, according to paper by Alan M. White of Valpairaso Law School. Not only are most borrowers unable to make the required payments, many end up owing more than before the modification agreement.

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