U.S. to mortgage firms: Pick up the pace

NO MORE Mortgage applauds every effort to help people modify their mortgage and stay in their homes. However, even this solution is only a temporary band-aid, because the mortgage modification only lasts 5 years, and then the agreement has to be renegotiated. We hope this program doesn’t simply kick the bucket down the road and in 2014 we’ll have to address all these issues again.

U.S. to mortgage firms: Pick up the pace

Pummeled by complaints from borrowers, loan servicers commit to more mortgage modifications. White House wants 500,000 trial mods by Nov. 1.

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