The long awaited on again, off again, multi-state settlement between the Attorneys General of our various states and the mortgage company rapists, uh, crooks, is apparently on again. Unless this is your first trip to this blog, let me end the suspense: the proposed settlement is: image credit: dreamstime Sorry to ruin the ending. What…
Tag Archive: loan modification in the united states
Judicial Mortgage Modification Will Work!
Mortgage cramdown, or judicial mortgage modification, will help prevent home foreclosures and will NOT disrupt the residential mortgage lending market. So says a new study by the Federal Reserve Bank of Cleveland. For a less scholarly explanation of Chapter 13 judicial mortgage modification, see the L. A. Times article by Lew Sichelman. Perhaps my favorite…
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.
