Mortgage Loan | Home Foreclosure Prevention

Emergency Mortgage Loan Modification Act of 2008

Monday, October 27th, 2008

With foreclosure rates soaring in most states, the Federal government is moving fast to remove an impediment to distressed debt restructuring on the end of holders of home mortgage loans.  The Emergency Mortgage Loan Modification Act of 2008 establishes a standard for loan modifications or workout plans for pools of certain residential mortgage loans.  States where [...]