Mortgage Refinance And Loan Modification
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12/07/2009
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Dec 7, 2009 10:29:44 AM
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Obama administration had issued new guidelines for the foreclosure prevention program, which addresses the issue on how to deal with borrowers with second mortgages and equity loans. Reports from Credit Suisse Group show that more than 50% of those borrowers have opted for a second mortgage. Obama administration’s $75 billion program was severely criticized by mortgage investors. These investors were mainly from securities and they did not like it because second mortgages were neglected in the program. Insurance firms, hedge funds and pension funds are included in the list of these investors. They have an argument that the second mortgages...
Fredcolegm
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