The Robbo Report

Could ANY Foreclosure Bailout Plan Actually Be Bad For Distressed Homeowners? ·

John Berleau-Openmarket.org: “Having borrowers continue to pay into a bad loan, even with reduced payments, takes away money they could be using to start over. Redefault rates from existing government-backed loan modification programs indicate that they are often ineffective. And in the case of borrowers facing job losses, staying in one’s home while being saddled with a mortgage can delay the necessary step of moving to an area with more job opportunities.”

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