Entries Tagged as 'Loans'

Nearly 50% of the loans that had been modified during the fist half of 2008 redefaulted within a year. Lenders are claiming they have stepped up their efforts to renegotiate loans but report released by bank regulators observe that over half of the borrowers who availed of the facility are again lagging behind in payment [...]

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President Barack Obama has launched the ‘Homeowner loan Modification Plan’ is an effort to stem the foreclosures and tide over the mortgage non-payments that has made millions of homeowners unable to make payments. This is supposed help over 4 million homeowners avoid foreclosure.

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Today nothing follows the usual routine. Mortgage companies are being unable to advance the required sum to bonafide borrowers at the last minute. 117 renowned mortgage companies have downed shutters in the past six months. Those remaining in business have raised their standards for advancing loans. Previously the going was easy. The lending company did [...]

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