More Subprime Mortgage Loans Likely to Be Downgraded by Moody

In a recent article, Bloomberg reported that Moody’s Investors Service said it’s reviewing all 2005, 2006 and 2007 bonds on subprime mortgages for credit-rating downgrades, covering debt with $680 billion in original balances. The review reflects an increase in Moody’s expected losses on the underlying loan pools, the New York-based company said in a statement [...]

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Financial Stocks Boosted by Mortgage Deal

Democratic lawmakers reached an agreement with Citigroup on a new loss mitigation plan to let bankruptcy judges alter loans in an effort to prevent borrowers from losing their home to foreclosure. Other mortgage lenders are expected to follow suit. The agreement raised hopes that the steep downturn in the housing market that has badly hurt [...]

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Should You Pay Thousands of Dollars to get a Mortgage Rate Modification?

Maybe…You are not required to pay to get a loan work-out but, most mortgage lenders do not require borrowers to pay for a mortgage modification agreement. However, loan modifications can be complicated and most loan work-outs take 3-4 months to complete. Most lenders have not invested the build the staff needed to keep up with [...]

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