simplesimon

Boston Fed: We Don't Understand Foreclosures

If you would, stay on top of this, Tom. A huge number of us have been watching this to see what happens,.. if anything substantive or helpful. I think I'm correct in assuming most of us are confused. Off hand, I only recall that modification of delinquent loans were targeted at those falling behind, and not available for those who are managing to remain current...seems fairly logical that if one is delinquent now, they may well be 6 months after the modification. It does sound good on the surface of it - to reduce the principle and the monthly payment -and thereby free up disposable income...better than foreclosure, and abandoned homes being trashed by vandals. Please...tell us more.