Arrearage Hitting Hard-to-Modify Prime Loans
May 13, 2009 by admin
he Financial Times:
The White House has thus thrown billions of dollars at the crisis, with programmes to modify troubled mortgages and others to help homeowners refinance into new loans even if their homes are worth less than they owe.
But as the economy has deteriorated and job losses have pushed new types of borrower into trouble, analysts warn that the current government programmes, dubbed Making Home Affordable, could still leave many struggling homeowners out in the cold.
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