Loan modifications rise; many don’t pare payments
Lenders are boosting their attempts to avoid home foreclosures, but fewer than 50% of modifications reduced payments by more than 10 percent.
U.S. lenders are boosting their attempts to avoid home foreclosures, but fewer than half of loan modifications made at the end of last year actually reduced borrowers' payments by more than 10 percent, data released Friday show.
The report, based on an analysis of nearly 35 million loans, was pub
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