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us economy: Mortgage Loan Modification Re-Defaults - 12/08/08 02:33 PM
The latest data from the OCC's Mortgage Metrics shows a disturbing trend of homeowners re-defaulting on their mortgages after a modification loan has been set up.
After 90 days the number of re-defaults is at 36 percent, 53 percent after 6 months and 58 percent after eight months. This is a disturbing report that may have the loan modification programs undergoing major changes, which may make it very difficult to get a modification loan.

So why haven't loan modifications been working? I believe the truth to be that many Americans are already way over extended and a simple modification that … (0 comments)

us economy: Breaking Down The Mortgage Bailout - 09/25/08 11:04 PM
Understanding the mortgage bailout runs a lot deeper than the government simply buying bad mortgages from lenders and putting the on the tax payers shoulders. In fact, the government may even be able line its pockets with trillions of dollars that would once again show the resiliency of the American economy.The issue that currently faces banks and mortgage lenders is that they have assets on their books that have become illiquid because they are continually falling in price. Even if borrowers are current on their home loans, by regulation the lender would have to take a loss on the loan reducing … (5 comments)

us economy: A Week Of Dismal Reports - 04/10/08 10:48 PM
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Jeremy Redlinger

Maple Grove, MN

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PRC Funding Minnesota Mortgage Broker - Jeremy Redlinger

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