Restructured Mortgages Still a Problem
I've written several columns this year about nonperforming loans (NPL) in the residential mortgage area this year, so let's look now at where the money centers are with respect to Troubled Debt Restructuring (TDR).
The Obama administration has implemented 12 different loan modifications programs in the past four years. They have all failed in multiple ways. The biggest single issue with their failure is that a large percentage of modified loans become nonperforming again after they are restructured, which makes the money centers reluctant to pursue the process....365 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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