Mortgage aid often failed to curb defaults (Los Angeles Times)

Story date: 2009-04-04 12:22:36
Added on: 2009-04-04 02:52:19

Lenders favored short-term relief over true loan modifications for troubled borrowers, a regulators report says. A snapshot of the reeling mortgage industry, released Friday by federal bank regulators, illustrates the challenges the Obama administration faces with its $95-billion plan to help lower mortgage payments for struggling borrowers.


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