Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Highland Park, Silverlake, Sherman Oaks and other L.A. areas too. General news and musings as well.
Sunday, April 26, 2009
Why loan modifications aren't happening
Today's New York Times business section has an interesting column regarding why more loans aren't being modified. Check the story by Gretchen Morgenson here. In short, there are two reasons: fear of lawsuits from investors, and fear that servicers of loans will make out like bandits, while leaving the owners of the loans high and dry.
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