Nearly Half of Modified Mortgages Delinquent Again
Some things just can’t be fixed, like unaffordable mortgages, that is, if you don’t bother making them more affordable.
The OTS released its fourth quarter 2008 Mortgage Metrics Report today, which revealed that nearly half of recent loan modifications fell back into serious default within months.
“For example, the percentage of modified loans that were seriously delinquent (60 or more days past Read more