by garyandlisa
April 3, 2011
Sellers
WASHINGTON (CNNMoney) — The head of JPMorgan Chase said Wednesday that banks would not consider writing down mortgages for homeowners who can make payments, an idea at the center of talks aimed at fixing the mortgage mess.
“Principal writedown for people who could pay their mortgages? Yeah, that’s off the table,” JPMorgan Chase (JPM, Fortune …
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by garyandlisa
April 3, 2011
Legal Updates
The program taps the federal bailout that saved the big banks, providing incentives to mortgage servicers to modify mortgages for borrowers behind on their payments.
“To many struggling Americans seeking permanent mortgage relief, HAMP offered little more than false hope. More homeowners have been kicked out of the program than have received permanent relief,” Rep. Darrell …
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