{"id":64726,"date":"2009-12-05T08:51:00","date_gmt":"2009-12-05T13:51:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/henry-blodget-loan-mods-are-still-a-disaster-2009-12"},"modified":"2009-12-05T08:51:00","modified_gmt":"2009-12-05T13:51:00","slug":"loan-mods-are-still-a-disaster","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/64726","title":{"rendered":"Loan Mods Are Still A Disaster"},"content":{"rendered":"<p><img decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/~~\/f?id=4b0281ca0000000000e82d4d\" border=\"0\" alt=\"foreclosure homeowner sad\" \/><\/p>\n<p>How badly are the government&#8217;s loan modifications doing?&nbsp;<\/p>\n<p>Here&#8217;s the money shot from<a href=\"http:\/\/www.nytimes.com\/2009\/12\/04\/business\/economy\/04norris.html?_r=2&amp;pagewanted=1&amp;ref=business\"> NYT reporter Floyd Norris&#8217;s investigation earlier this week<\/a>:<\/p>\n<p style=\"padding-left: 30px;\">Chase disclosed in November that:<\/p>\n<ul>\n<li><strong>nearly a quarter of trial modifications had failed because the borrower did not make even a single payment<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>nearly half had failed to make all three payments required before the modification could become permanent.<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Of those who had made all three payments, only about a quarter had submitted all the required documents. <\/strong><\/li>\n<\/ul>\n<p>Add all that up and approximately 25% of applicants are making it through the loan-mod trial period.<\/p>\n<p>So what&#8217;s the real reason the mods aren&#8217;t working?&nbsp; Because the loans never should have been made in the first place.<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/henry-blodget-loan-mods-are-still-a-disaster-2009-12#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/heres-the-real-reason-loan-modifications-arent-working-2009-12\">Here&#8217;s The Real Reason Loan Modifications Aren&#8217;t Working<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/judge-slams-indymac-cancels-defendants-mortgage-2009-11\">Judge Slams Indymac, Sets Aside Defendant&#8217;s $292,500 Mortgage<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/chart-of-the-day-negative-equity-by-vintage-year-2009-11\">CHART OF THE DAY: We&#8217;re Still Generating Too Many Negative Equity Mortgages<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/H5UT1a24oV8\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How badly are the government&#8217;s loan modifications doing?&nbsp; Here&#8217;s the money shot from NYT reporter Floyd Norris&#8217;s investigation earlier this week: Chase disclosed in November that: nearly a quarter of trial modifications had failed because the borrower did not make even a single payment nearly half had failed to make all three payments required before [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-64726","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/64726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=64726"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/64726\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=64726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=64726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=64726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}