Welcome to our Home, James! ® Ocean View Beach Homes & Condos Blog

We believe the California Riviera - extending along coastal San Diego and south Orange County - is the best place in the world to live!

WHO MAY POST ON THIS BLOG: We invite contractors, inspectors, lenders, title, escrow and others in fields related to real estate to post helpful articles, advice or comments to this blog. Go ahead and include reference to your website and contact information. We especially encourage enquiries from clients and prospects. Post your questions to this blog - or email or call us - and watch for a timely reply.

Remember, for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!"

SCROLL DOWN TO VIEW POSTS

* If you have a subject of interest, try SEARCH - we already have thousand posts and abundant content on home improvement and maintenance, systems, landscaping, "green" energy efficiency, tax credits and deductions, finance, insurance, and many others! Chances are good that you will find exactly what you need to know. Go ahead, Search!*

Search This Blog

Monday, December 6, 2010

U.S. Orders End to Dual-Track Process

Daily Real Estate News, December 6, 2010

Acting Comptroller of the Currency John Walsh last week told banks to stop foreclosure proceedings if the borrower is starting or in the midst of a loan-modification program.

This dual-track system has hastened foreclosure for many borrowers who were caught between instructions to pay lower payments during a loan-modification trial period and punishing fines for failure to pay the full amount if the loan mod failed.

One regulator disagreed with the change, saying that lenders needed to be able to press forward with foreclosures, especially when borrowers clearly weren’t going to meet loan-modification standards.

Source: Associated Press, Alan Zibel (12/01/2010)
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)