california real estate short sale foreclosure nod nos loan modification inland empire mortgage: Loan Modifications Not Worth Much In Cali - 11/06/10 06:36 AM
As I am sure all of you are aware, loan modifications are worthless for most Southern California home owners that are under water.
I was reading the Fannie Mae 10-Q that came out yesterday and noticed an interesting fact, 93% of the loan modifications granted were for terms and time, not balance due. 
When one has a mortgage that is upside down by over $100k, terms and time mods are nice but not the best¬†financial decision. With home prices not reaching their previous levels until 2025+, per case-shiller, it makes sense to leave the bad investment behind, this is the best … (0 comments)

 

Robert Huntsinger

Empire Realty Upland, CA - Full Service at a Discount

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