High Rate of Loan Modifications Re-Default
Posted February 3rd, 2009 by adminLoan 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 [...]
Tags: foreclosure crisis, mortgage loan modifications
Filed under:Foreclosure Articles, Loss Mitigation Tips

