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Under Education Department contracts, collection companies "rehabilitate" a defaulted loan by getting a borrower to make nine payments in 10 months.
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We get a borrower on the phone.
If I actually got a borrower on the line, I was supposed to convince him or her to either fork over or sign a new deferment deal.
It usually takes a great deal more work to get a borrower with credit issues by the underwriter.
Getting a delinquent borrower current on a loan by adding the payments that are owed is considered a forbearance, not a loan modification.
The rules now being applied, in some cases clumsily, had a Goldilocks quality; to get a modification a borrower had to need it a lot, but not too much.
Maybe you've got a co-borrower with solid financials to ease the lender's concerns.
TitleMax promises to "make getting cash easy!" To get a loan, borrowers with "good credit, bad credit, or no credit" need only turn over the title to their car.
But this minimum does not apply if the borrower is getting a gift that amounts to 20 percent or more of the home purchase price, Ms. Cohn said.
Getting a hold of an actual borrower was another matter.
[C3.] GETTING RID OF A SURPRISE The House approved a measure to protect borrowers from getting a surprise tax bill from the Internal Revenue Service after lenders foreclosed on their homes.
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CEO of Professional Science Editing for Scientists @ prosciediting.com