Will Obama’s Mortgage Glitch Fix to Help Borrowers Modify Loans Work?

The current program developed and espoused by the Obama administration is an oxymoron for while lenders get to be pampered with the $75 billion budget that will go to mortgage subsidy, they will be coerced to comply with the loan modification requests from borrowers. As stated in the program, the legislation will bequeath bankruptcy court judges the power to modify loans if banks won’t do it.

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