Because servicers in the lending industry can make more money collecting delinquency fees on mortgages than by modifying loans, guess which road they are taking? The New York Times says today that the longer borrowers remain behind on their payments, the more money servicers collect, even after the home More…
Here’s a huge pat on the back and a show of support for Barry Ritholtz, who truly has had it with those who keep clinging to the widely discredited belief that the Community Reinvestment Act caused the housing crisis. Ritholtz writes at The Big Picture that he’s offering a More…
When the foreclosure crisis began to heat up last fall, troubled borrowers got this advice: Call your lender and try to work things out. The Bush administration led the way on this, unveiling its Hope Now program — a hotline to connect borrowers with mortgage counselors More…
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