Over half of modified mortgages default again within 6 months

Just another example of bailouts that don’t work. MarketWatch says  A study looking at loans that were modified in the first three months of 2008 showed that 37% of borrowers were more than 30 days behind on their payment within three months, and 55% had re-defaulted within six months¸ said Grovetta Gardineer, a managing director […]