The Failure of ‘Help’: ‘Modified Loans’ Don’t Modify Repayment
Democrats: not about economics, but all about politics
By Warner Todd Huston —— Bio and Archives--February 23, 2009
American Politics, News | Comments | Back To Full Article
One of the fixes that Democrats are insisting upon to save people’s homes is the idea of the “modified mortgage.” A modified loan is an offer to homeowners that have either become delinquent in payments or have become overwhelmed in interest to have their loans reinstated with certain modifications that are expected to make payments lower to the borrower. The idea is that the troubled homeowner can forestall foreclosure and stay in their home.
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