Chris Krehmeyer from Beyond Housing was quoted in a article from the St. Louis Post-Dispatch this Sunday on whether a chunk of the $700 billion Wall Street rescue plan will provide relief for local homeowners.
You can read the entire article here.
This entry was posted on Monday, November 3rd, 2008 at 5:54 pm and is filed under News and Other Resources. You can follow any responses to this entry through the RSS 2.0 feed.
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Makes sense to do loan modification with borrowers to lower payments and mortgage
to reflect current value. The loss is there either way. If borrower makes payment on time for a year the banks will have a performing asset that can than be sold, most likely end less of loss if they foreclose and would help stem clut of vacant foreclosures
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