Exact(3)
That means modifying a troubled loan, if reduced payments would bring in more money over time than a foreclosure.
For banks, foreclosure can be preferable to modifying a troubled loan because the late fees and interest charges are paid to the bank when a seized home is sold.
Viewed in this perspective, it is apparent that the act of modifying a troubled mortgage should really involve nothing more than re-balancing the structure of the mortgage to reflect the reality that the mortgage was much riskier than was realized when the mortgage was first issued.
Similar(57)
And so legislators have put together the Helping Families Save Their Homes Act of 2009, a bill that aims, among other things, to prod financial companies into modifying more troubled home loans.
The research, performed in mice, involved modifying a specific class of immune cells to patrol the body for cancer and send a signal through blood or urine when they found trouble.
It's modifying a verb.
And Congress and the White House have yet to figure out that the economy will not recover until housing recovers — and that won't happen without a robust effort to curb foreclosures by modifying troubled mortgage loans.
Schweitzer inherited a troubled company.
Consumer advocates, the press, investors and homeowners have already compiled a compelling list of transgressions: conflicts of interest that have banks pushing foreclosures, without a good-faith effort to modify troubled loans.
Last year Countrywide agreed to put up about $8.4 billion to modify troubled home mortgages in a settlement reached with 11 state attorneys general.
This is modifying an existing recording.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com