Walk Away From Your Mortgage! NY Times

The Way We Live Now Walk Away From Your Mortgage! By ROGER LOWENSTEIN Published: January 7, 2010 John Courson, president and C.E.O. of the Mortgage Bankers Association, recently told The Wall Street Journal that homeowners who default on their mortgages should think about the “message” they will send to “their family and their kids and … Read more

Second Chances Subprime Mortgage Modification and Re-Default

Federal Reserve Bank of New York Staff Reports Mortgage modifications have become an important component of public interventions designed to reduce foreclosures. In this paper, we examine how the structure of a mortgage modification affects the likelihood of the modified mortgage re-defaulting over the next year. Using data on subprime modifications that precede the government’s … Read more

HAFA – New Program Offers Borrowers Foreclosure Alternatives

Thanks for the tip Foreclosure Hamlet! Now why hasnt anyone heard about this? It isnt even on the HAMP website… Maybe this is why the “unlimited” credit line for Fannie and Freddie was passed in the dead of night on Christmas Eve… HAMP Update HAFA – New Program Offers Borrowers Foreclosure Alternatives Introduction of Home Affordable Foreclosure Alternatives … Read more