Analysis of The Results of The Government-sponsored Programs
The Office of the Comptroller of the Currency and the Office of Thrift Supervision reported on 2009-04-03
- "Nearly one in four loan modifications in the fourth quarter actually resulted in increased monthly payments". This can occur when late fees or past-due interest are added to the monthly payment.
- The redefault rate was about 50 percent where the monthly payment was unchanged or increased, and 26 percent where the payment was decreased.
Read more about this topic: Loan Modification In The United States
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