According to a new report released by the New York based credit-rating agency, Fitch Ratings, a whopping 75 percent of borrowers who modified their mortgages through a government-sponsored program are on point to default on their loans within the next year. Those at the greatest risk secured mortgages not backed by the federal government took via the Obama’s administrations Home Affordable Modification Program.
Read the rest here: Majority of Modified Home Loans Will DefaultMajority of Modified Home Loans Will Default
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