The Obama administration is considering proposals to ban all foreclosures on home loans unless they first have been examined for possible modification. Professor Jack Aber, chairman of the Department of Finance and Economics in the School of Management, says it could be palatable to lenders if the government eases accounting rules having to do with the values that mortgages must be carried on their balance sheets.
“Otherwise, the proposal to require review for any loan before it can be foreclosed on could very likely lead to some institutions failing.”
Contact Jack Aber, 617-353-4404, jackaber@bu.edu
One Comment
Mortgage Toronto posted on March 4, 2010 at 10:44 am
That is a good idea, especially in a bad usa encomony.