I am back again as I promised! I wanted to alert you to an issue that I am very concerned about. I am afraid that the new Republican congress will be so friendly to banks that more homeowners than ever before will lose their homes. Two weeks ago, we in the industry were worried about [...]
The change that caught the news media’s attention was the one that talked about principal write downs on mortgages. The revision simply said mortgage companies would write down the balance of a mortgage for people facing foreclosure in those instances where the balance of the mortgage was far greater than the value of the home. [...]
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