New Orleans I’ve been harping on the drastic need for lenders (banks and their buddies) to write down significant parts of the homeowners’ outstanding balance to right size loans and prevent foreclosures, so I read an article in the Wall Street Journal by James Hagerty yesterday with eager anticipation hoping to find the industry was [...]
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New Orleans The scorecard is finally being written on the ballyhooed, though mostly baloney, loan modifications being done by big home mortgage loan servicers and trumpeted by the federal government (and largest shareholder in many of these outfits) as a real plan for foreclosure relief, and it stinks. Gretchen Morgenson in a searing Times column [...] |
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