jump to navigation

Mortgage Modification Plan Too Complex? August 10, 2009

Posted by John Watch in Uncategorized.
Tags: , , , , , ,
trackback

Complex? Public records on property data show that homeowners are not getting the help fast enough. Maybe the Mortgage Assistance Program would be more beneficial for homeowners.

Via theRealDeal.com

“Only 15 percent of eligible homeowners have been offered loan modifications since the federal government’s mortgage modification plan went into effect in March. Ken Rosen, chairman of the UC Berkeley Fisher Center for Real Estate and Urban Economics, and John Geanakoplos, a professor of economics at Yale Univeristy, talked to MSNBC about how the program has worked so far. Rosen said he does not think the mortgage industry has the capacity to handle a program as complicated as the government’s mortgage modification plan. Geanakoplos said it is important to reduce the principal amounts on mortgages that are at risk of going into foreclosure. “

Bookmark and Share
Advertisements

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: