Blown Mortgage: Loan Modifications, 5 Things the Government Is Not Doing But Should
deanouellette
· 3 weeks ago
Question on number 2 principal reduction Loan 300k House worth 150k today so govt forces bank to do principal reduction to 150k Owner sells house in 7 years for $320k, do they owe the bank the 150k or do they owe the bank the 300k (minus principal paid in the next 7 years obv)
Loan 300k
House worth 150k today so govt forces bank to do principal reduction to 150k
Owner sells house in 7 years for $320k, do they owe the bank the 150k or do they owe the bank the 300k (minus principal paid in the next 7 years obv)