Tagged: underwater loans
The Obama administration announced a new strategy to fight home foreclosure, including requiring lenders to cut or eliminate monthly mortgage payments for many jobless homeowners. School of Management Finance & Economics Department chair Professor Jack Aber says some borrowers may unfairly benefit at the expense of others, but breaking the impass still makes sense.
“Purging these underwater loans out of the financial system will reduce uncertainty and ultimately strengthen the financial condition of lending institutions.”
Contact Jack Aber, 617-353-4404, firstname.lastname@example.org