by Moe Bedard
From the Center of Responsible Lending December 6, 2007
With 2 million foreclosures predicted over the next two years, the plan announced by President Bush for targeted loan modifications for some subprime borrowers is a positive, but very limited, first step. CRL estimates the President’s plan will only help about 7% of subprime borrowers—about 145,000 families—because of the program’s [...]
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by Moe Bedard
Paul Leonard, California Office Director for the Center for Responsible Lending in recent testimony said;
Despite Lender Rhetoric, Modifications to Date Have Been Limited
For months now, many large servicers have been trumpeting their efforts to contact borrowers facing resets early and to offer aggressive loan modifications. To date, however, the reality of results has not matched the [...]
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