Comment on Loan Modification: Banks Finally Agree To Reduce Principal For Borrowers

Loan Modification: Banks Finally Agree To Reduce Principal For Borrowers

Banks and loan investors are starting to bite the bullet and lower the principal due on home mortgages for some struggling borrowers, a new report from bank regulators shows. That's good news for some homeowners, but may portend more write-offs over the next few years for banks and other lenders now wading through hundreds of thousands of applications for loan modifications.

 

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