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Mortgage modification program doesn#39;t work : Bad Credit Advisor

Mortgage modification program doesn#39;t work : Bad Credit Advisor

This is a discussion on Mortgage modification program doesn#39;t work : Bad Credit Advisor within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; The much touted bmortgage/b modification program apparently doesn't work as planned and the Comptroller of the Currency John C. Dugan ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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12-08-2008, 08:23 PM

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Mortgage modification program doesn#39;t work : Bad Credit Advisor

The much touted bmortgage/b modification program apparently doesn't work as planned and the Comptroller of the Currency John C. Dugan is quite surprised to the fact, that more than half of loans modified in the first quarter of 2008 fell b.../b

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