For each year that the homeowner keeps up payments on both loans, one-fifth of the Treasury loan would be forgiven. That is just fantastic. For the home-owner at least.
Originally posted here:
To Default, or Not To Default
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Millions of dollars have been spent to determine whether or not lowering payments will curb the rate of re-defaults on loan modifications. The most recent report by the OCC at Treasury has shown that modifications that decreased monthly ...