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Loan Modifications Elder Issues

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
Ballard Spahr LLP

CFPB May 2017 complaint report highlights complaints from older consumers

Ballard Spahr LLP on

The CFPB has issued its May 2017 complaint report highlighting complaints from “older consumers,” who the CFPB defines as consumers who voluntarily reported their age as 62 or older.  The CFPB reports that consumers...more

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