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  • Lenders, Loan Modifications and Coming 'Cram-Downs' [View article]
    "Modifications" as defined by the industry are merely extending loan terms from 30 to 40 years without reducing any principal. The industry that Tom Brown champions feels that a mortgage payment which eats away at 65 percent of your net income is acceptable. If you break a horse's leg before the race it will not finish.
    Dec 31 17:03 pm |Rating: +2 -1
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