norcaljeff_IHB
New member
For several months, in discussions about the various and varied loan modification programs out there, we've been noting that re-defaults are rising, but we never actually had any numbers. Today we do. According to the Comptroller of the Currency, John Dugan, who gave a preview of his latest Mortgage Metrics report:
<strong>?After three months, nearly 36 percent of the borrowers had re-defaulted by being more than 30 days past due. After six months, the rate was nearly 53 percent, and after eight months, 58 percent.? </strong>
article linkhttp://www.cnbc.com/id/28115624/site/14081545
Video link http://www.cnbc.com/id/15840232?video=955757717&play=1
<strong>?After three months, nearly 36 percent of the borrowers had re-defaulted by being more than 30 days past due. After six months, the rate was nearly 53 percent, and after eight months, 58 percent.? </strong>
article linkhttp://www.cnbc.com/id/28115624/site/14081545
Video link http://www.cnbc.com/id/15840232?video=955757717&play=1