Industry NewsMortgage

Loan mod ‘insanity’

Inept practices undermine housing recovery
Published on Oct 30, 2009

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by CareyBot

While I applaud President Barack Obama's plan to rescue the housing market through the restructuring of distressed mortgages, the current landscape of loan modifications appears to be something of a bad joke, littered with inept, if not fraudulent, practices by many loan servicers.

"Insanity" is the word Jay Meadows uses to describe current loan modification efforts.

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