CRC Questions Loss Mit Efforts

Dymi, Amilda
November 2007
National Mortgage News;11/12/2007, Vol. 32 Issue 8, p12
Trade Publication
The article discusses the result of a survey conducted by the California Reinvestment Coalition (CRC) which has shown that lenders in California, are not helping their borrowers to modify the loans and to avoid foreclosure. CRC has found that 57% of borrowers who cannot afford to pay their mortgages are pushed to foreclosure while 33% are forced to short sale. CRC has reported that borrowers who can negotiate with their loan servicer for a modification have an option to escape foreclosure.


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