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A record 183,000 U.S. homeowners avoided foreclosure in April through mortgage loan workouts, bringing the total to 1.6 million at-risk borrowers who have had mortgage terms or payment plans modified in less than a year.
I have had several conversations with investors who are worried about what many are experiencing currently. With core interest rates being lowered by the FOMC (another 25-basis point cut today), foreclosures are standing at all time highs and sub-prime mortgages being completely eradicated by the likes of Freddie Mac,
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Experts say it is in everyone’s interest to settle these loans, but doing so is not always easy. Consider Randy and Dawn McLain of Phoenix.
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“The Fed announced a new temporary lending program that will allow participants in the bond markets to swap the mortgage-backed securities that they can’t…
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