investor sues to block mortgage modificationsthe battle over the mass modifications of troubled mortgages has begun in earnest. on dec. 1, william frey, a private investor in mortgage-backed securities, filed a lawsuit in new york state supreme court alleging that the proposed modification of some 400,000 home loans originally underwritten by the defunct lender countrywide financial is illegal.reaction to the mortgage help planreaction to the news that help will be given to those struggling with mortgage repaymentsu.k. mortgage approvals drop to the lowest since at least 1999jan. 2 (bloomberg) -- u.k. mortgage approvals dropped to the lowest since at least 1999 in november and banks predict they will restrict lending further to companies and consumers as the recession causes spiralling defaults and losses.which mortgage plan is better?the mortgage meltdown has been the key catalyst in the economic downturn and now there are dueling plans for how to fix it. one of the plans is from the treasury department, the other one is from the fdic. which one is best? fox 10's Miriam Garcia gets some answers...... |
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