Lucent Technologies reached an agreement with its lenders yesterday to modify the terms of its $4 billion in bank loans.
Bank regulators have been pushing loan servicers to modify the terms of more mortgages to avoid foreclosures.
Now, struggling with a much higher interest rate and in foreclosure, she wants to modify the terms of the loan.
Trying to act before foreclosure looms on her home, she has asked Countrywide to modify the terms of her loan.
But he added that Rihanna could seek to modify the terms of the order if she so desired.
Supporters say the measures increase the chances of settlements that modify the terms of the loans, prevent foreclosures and allow homeowners to stay in their homes.
"We have indicated we are not satisfied with a unilateral decision by the Russians to modify the terms of this understanding," he said.
He has held committee hearings to praise banks like J. P. Morgan Chase and Bank of America, which have instituted programs to modify the terms of some mortgages.
[C4.] Lucent and Lenders Modify Terms Lucent Technologies reached an agreement with its lenders to modify the terms of its $4 billion in bank loans.
Finally, the government could use its power as the owner of mortgages and mortgage-backed securities to help more struggling homeowners modify the terms of their home loans.
Several members of the committee urged him to follow the more aggressive approach taken by the F.D.I.C., which requires some lenders to modify the terms of troubled loans.
