More Prime Foreclosures; More Re-Defaults | WHAT REALLY HAPPENED

More Prime Foreclosures; More Re-Defaults

"Yesterday Fitch ratings estimated that up to 75 percent of the modifications now being done through the administration's Making Home Affordable program will re-default in six months to a year. I'm not talking about the old modifications, which were largely repayment plans that could actually raise monthly payments. I'm talking about the new mods, which lower monthly payments to 31 percent of a person's income.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA