The US Treasury Department met with loan servicing companies this week to push for more mortgage modifications.
In an attempt to help bring us out of the mortgage crisis, regulators want to see more loans become more affordable to more borrowers. This means adjusting monthly payments and making other changes to make loans more affordable.
Mortgage modifications are happening but the Treasury wants to see more. Reports in recent months suggest that the process is slow, often unsuccessful, and confusing - even to lenders.
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