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Mortgage Modifications

FDIC Chair Promotes Increased Incentives for Mortgage Modifications

While the media today focused mostly on the testimony of former Federal Reserve Chairman Alan Greenspan before the Senate Banking Committee, there was other news coming out of the hearing.

Federal Deposit Insurance Corporation Chairperson Sheila Bair told lawmakers about her plans to use methods pioneered by several existing programs to encourage mortgage services to increase the pace of loan modifications for homeowners facing foreclosure.
Ref. Source 3

Modifications Mortgage

HAMP Report: Few Loan Modifications Made Permanent

November figures for the Treasury Department's Making Home Affordable Program show that a disappointing 4.3 percent of borrowers enrolled in the program... Ref. Source 3

Mortgage Modifications History & Civil Business Politics

Homeowners opt to flee instead of fight as loan modifications start to lose luster

Desperate homeowners scrambling to get a loan modification through federal foreclosure relief programs are beginning to shun the offer, opting for a strictly business approach to the dilemma - walking away. Ref. Source 7