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Good job SDR! This board seeks clarity in numbers.. My recollection of ten years ago is that San Diego NOD and REO numbers (and percentages) went up several times greater than today’s comparative “low” percentages of total mortgage monies outstanding.
Hopefully, lenders will continue to offer new solutions for revision, recasting, abeyance and re-financing the ARM loans where interest rates are moving upward.. The media needs to TELL the public of lenders efforts at “loss mitigation”, which appears to be happening SOONER in this “correction cycle”! Borrowers must ASK LENDERS EARLY when problems hit their horizons!
With contined GDP growth, full employment and low inflation, the loan restructuring pain might be minimized. Is anyone else out there connected to the mortgage industry process of LOSS MITIGATION? We see these activities as very disorganized and inconsistent! HELP!