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Toll Brothers Inc. Message Board

  • sage2123 sage2123 Aug 1, 2013 9:24 PM Flag

    Redefaults

    Proving once again that there is NO housing shortage.

    A new federal government report says that more than 163,000 of the 600,000 or so homeowners who received permanent loan modifications under the Home Affordable Modification Program have redefaulted.

    A total of $815 million of taxpayer money has been spent on loans that redefaulted, money primarily paid to the banks and loan servicers in incentives to modify those mortgages -- modifications that clearly weren't significant enough to keep those borrowers in their homes for the long haul.

    Sentiment: Sell

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TOL
35.34+0.77(+2.23%)Aug 19 4:00 PMEDT

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