While lenders have come under fire for not doing enough to help borrowers remain in their homes, it looks as though those who have tried are meeting with surprisingly high failure rates. An Office of Comptroller of the Currency (OCC) report shows that mortgages which were modified by the lender (actual terms changed to lower payments, rates, and / or balances) to make the payments possible continue to fail. Continue reading ‘Modifications Malfunction: Surprising Failure of Foreclosure Prevention’
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