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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