{"id":867,"date":"2012-06-28T17:56:43","date_gmt":"2012-06-28T22:56:43","guid":{"rendered":"http:\/\/www.orangesand.com\/?p=867"},"modified":"2012-06-28T17:56:43","modified_gmt":"2012-06-28T22:56:43","slug":"mortgage-debt-forgiveness-preventing-foreclosures","status":"publish","type":"post","link":"http:\/\/www.thebains.com\/blog\/2012\/06\/28\/mortgage-debt-forgiveness-preventing-foreclosures\/","title":{"rendered":"MORTGAGE-DEBT FORGIVENESS PREVENTING FORECLOSURES &#8230;&#8230;&#8230;.."},"content":{"rendered":"<p>Reducing the amount struggling homeowners owe on their mortgages is proving to be a more effective way to prevent foreclosures than other methods, such as reducing interest rates or postponing payments, according to Amherst Securities Group.\u00a0 That brings the home&#8217;s value near market value, so borrowers do not fall behind on payments &amp; lose their homes.\u00a0 Only 12% of borrowers who receives principal reductions re-defaulted in 2011, compared to 23% who received interest rate reductions (but NO principal reduction) &amp; 30% who received forbearance, which postpones their debt repayment.\u00a0 In many cases homeowners are no longer hopelessly underwater.\u00a0 Loans backed by Freddie Mac &amp; Fannie Mae are NOT included, but could change as the Federal Housing Finance Agency, who controls the majority of outstanding mortgages through its oversight of Fannie &amp; Freddie, has thus far prohibited the mortgage giants from including debt forgiveness as part of their mortgage modifications, as considered unfair.\u00a0 Uncle Sam could help with these loans, but conplicated &amp; more to come.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reducing the amount struggling homeowners owe on their mortgages is proving to be a more effective way to prevent foreclosures than other methods, such as reducing interest rates or postponing payments, according to Amherst Securities Group.\u00a0 That brings the home&#8217;s value near market value, so borrowers do not fall behind on payments &amp; lose their [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/867"}],"collection":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/comments?post=867"}],"version-history":[{"count":0,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/867\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/media?parent=867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/categories?post=867"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/tags?post=867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}