by Moe Bedard
Federal Reserve Board Governor Randall Kroszner said on Monday, ” With the continuing high rates of foreclosure and the high costs associated with foreclosures, it is in the interest of lenders, investors, and borrowers to develop prudent loan modification programs to help borrowers on a larger scale and at sustainable levels.
Efforts to streamline or standardize [...]
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by Moe Bedard
No one seems to know exactly what borrowers will be “helped” by US Treasury Secretary Henry Paulson’s “new” Hope Now initiative.
And not everyone’s clear (to say the least) about California Governor Schwarzenegger’s deal with Countrywide, Litton, Home Eq and GMAC to modify mortgages in the golden state.
The New York Times reports;
The Governors plan in California [...]
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