Obama Finds Roots Of Housing Crisis

The Obama administration launched a housing rescue plan a few days ago that’s designed to address the problems at the root of the recession. It includes providing incentives to financial institutions that extend loan workouts or refinance loans. Many experts working on the front lines of the foreclosure crisis are hopeful that it can make a difference.

The [...]

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High Rate of Loan Modifications Re-Default

Loan modification agreements have been “re-defaulting” at an alarming rate.

According to the federal Office of the Comptroller of the Currency, 58% of mortgage loan modifications done in the first quarter of this year have re-defaulted, and fell delinquent within the first eight months of the year. Diana Olick, CNBC’s real estate correspondent, believes the government [...]

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