Lower interest rates, extended payout time, force escrows for taxes and insurance, balloon conversion..etc. Currently Fannie Mae and the like mandate it to a point but not all banks and home loans and it is in the discretion of the banks. Lest not forget about the Hardship claims you have to make..
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Well last time I checked it was still a “free” country and no one was ‘required” to do anything. So NO!!!!!!!!
you would think it might be in the banks best interest not to have so many foreclosures but evidently they don’t have to because they haven’t yet, so I think the answer is no
Nope, I don’t think they should be required to work with everyone and every situation.
My question is: if a person loaned another person $10,000 at 7% interest what the first person think if someone told him that he was only going to get 4% because the person couldn’t afford the payment. As one sees I am pro business and people should have realized what they had signed.