CM_Dude_IHB
New member
Posted on the OC Register's South Coast Homes blog this morning:
http://southcoasthomes.freedomblogg...ys-95-of-loans-have-state-federal-violations/
Several interesting quotes from the interview with De Novo Financial Solutions:
<em>"Statistics show that only 10% of people qualify for loan modifications, and 50% of that percentage fall back into trouble within six months, says De Novo Business Development Executive Teri Murphy.
In auditing loan documents of troubled homeowners, Murphy says De Novo?s legal underwriters have discovered that 95% of ARMs have state and federal violations.
?If you?re having trouble making your payments now and purchased your loan within the past seven years, there is a possibility that your loan could be predatory,? Murphy said.</em>
This isn't really a news article, and De Novo Financial Solutions contacted the Register, but food for thought regarding loan mod reality.
http://southcoasthomes.freedomblogg...ys-95-of-loans-have-state-federal-violations/
Several interesting quotes from the interview with De Novo Financial Solutions:
<em>"Statistics show that only 10% of people qualify for loan modifications, and 50% of that percentage fall back into trouble within six months, says De Novo Business Development Executive Teri Murphy.
In auditing loan documents of troubled homeowners, Murphy says De Novo?s legal underwriters have discovered that 95% of ARMs have state and federal violations.
?If you?re having trouble making your payments now and purchased your loan within the past seven years, there is a possibility that your loan could be predatory,? Murphy said.</em>
This isn't really a news article, and De Novo Financial Solutions contacted the Register, but food for thought regarding loan mod reality.