Oh my goodness - why are people not storming the proverbial Citadel? We have actual proof of Citibank considering the reduction of loan principal back in 2009 - but FannieMae dismissed the idea!
This article published yesterday in the Washington Post is superb and should be known. I reprint it below with all consideration to the excellent reporting by Brady Dennis.Fannie Mae had seen benefits to lowering some home loans, documents indicate
Officials at governm...
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Roughly $25 billion in relief for distressed borrowers, states and federal government.After many months of negotiation, 49 state attorneys general and the federal government have reached agreement on a historic joint state-federal settlement with the country’s five largest loan servicers: Ally/GMAC Bank of America Citi JPMorgan Chase Wells FargoThe settlement will provide as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal go... Continue reading ...
Well, some interesting news was published today in the New York Times.
The Associated Press reported that The Obama administration will expand its signature foreclosure-prevention program to try to help those with heavy debt loads avoid losing their homes.
The Home Affordable Modification Program will also be extended through 2013.
The government will triple the financial incentives for private lenders to reduce the principal amount of mortgages for homeowners at risk of losing their homes. And ... Continue reading ...
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