mortgage modification: Federal Government Proposes to Create new Bad Debt Holding Company - 09/18/08 04:17 PM
Dow Jones industrials went up 400 points today following a report that the federal government may create an entity to absorb banks' bad debt.
It's reported that Treasury Secretary Henry Paulson is considering the formation of a vehicle like the Resolution Trust Corp. that was set up during the savings and loan crisis of the late 1980s and early 1990s.
"It's going to take a lot of the bad debt off the balance sheets of these companies," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, commenting on the possibilities of an entity akin to the … (0 comments)
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mortgage modification: Avoiding Foreclosure - 08/31/07 11:27 PM
This is the legal means a mortgage company may use to repossess their collateral, your home should you default on making timely payments. If the property is sold for less than the total amount owed on the mortgage loan, the mortgage company or HUD could seek a deficiency judgment against you. A deficiency judgment could seriously affect your ability to qualify for credit in the future. Even worse, it's a one way street. Surplus funds are not returned to former homeowners. With much to loose & nothing to gain, foreclosure should be avoided at all costs.Do Not Ignore a Breach / … (1 comments)
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