"[I]t will cost to cure any of the outstanding fees, fines, penalties that are there, plus securing an attorney. Those significantly add up," said Rosie Biundo, senior director of product marketing at Equifax Mortgage Services.
In the wake of recent court rulings upholding homeowners associations' "super lien" status in foreclosures, mortgage vendors have flooded the market with products to help servicers and investors manage this long-standing threat.
Tony Hernandez, director of the Rural Housing Service, defended his program, saying many of the borrowers it lends to can’t afford FHA loan.
The Rural Housing Service should merge with the Federal Housing Administration to save money and improve service, the head of the Government Accountability Office testified Tuesday.
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