I can't find specific details, but it does look like the new law would encourage delinquincy. If that is the case, it is insane. Have to see real info first, but...
Update: what I just read on LA Times is not the law tied to HARP that I had recently discussed with some guys in the financial/mortgage industry. To me, HARP makes sense because principal gets reduced as more of the payment goes toward principal. Just dropping the principal for delinquent payers is a harder sell, although anyone who wants to buy or sell a home is held hostage by the situation.
Last edited by zimmy; 04-10-2012 at 02:47 PM..
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