Should the Government Subsidize Mortgage Modifications?
May 12, 2009 by admin
Filed under Florida Foreclosure News
Should the government be bribing mortgage servicers to modify loans and reduce payments?
Under the current housing plan, the federal government pays for one-half of the cost when lenders reduce mortgage payments to 31 percent of borrower income from 38 percent. When this plan was revealed, I was relieved because it seemed so much more reasonable [...]