Well, as it turns out, one investor, Impac Funding/Impac Holdings, has run a calculator on this and discovered that you’ve been right all along. They would in fact be better off modifying… but they can’t seem to get servicers... (Continue reading)
HERE IT IS... Issue #2 of Mandelman's Monthly Museletter! INSIDE THIS MONTH'S ISSUE: Scammer Servicers, JPMChase Mods Begin at Home, The Servicers Pledge, Countrywide's Lying Again, Barney's Pissed, 1/10 in CA, Banker Bonuses, FTC's Hunt, Mod Performance, New... (Continue reading)
Apparently, they were not quite satisfied with the hundreds of millions they stole… I mean made, so they’ve launched a company that will buy distressed mortgages from banks and the government at a discount, modify the loans so that the... (Continue reading)