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Thousands of Massachusetts homeowners will see their home loans adjusted and black and Latino borrowers will be reimbursed for high fees as part of a settlement with a subprime lender the state accused in a lawsuit of unfair and discriminatory lending practices.

Mortgages Banks Are Happy to Modify

Posted by mortgage 321 days ago (Editorial)
NEW YORK (TheStreet) -- Three of the "big four" U.S. banks still have significant exposure to option-payment adjustable-rate mortgages-- or option-ARMs -- leftover from the subprime mortgage boom. But the prolonged low-rate environment has given borrowers a brief financial respite, and lenders are using opportunity to modify the mortgages and push homeowners into lower-risk financing. Option ...

Mortgage: Walk away or modify it?

Posted by mortgage 367 days ago (Editorial)
Homeowners who have a hard time making their mortgage payments probably have thought about applying for a home loan modification.
ATLANTA - Standing in the lobby of the Georgia World Congress Center on Tuesday, emotional homeowners debated the pros and cons of a mortgage restructuring event that drew thousands hoping to save their piece of the American dream.

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