FDIC Loan Mod Plan May Increase Delinquencies

By Gabrielle Stein

September 8, 2008

Late last month, in an effort to help delinquent IndyMac Bank borrowers stay in their homes, the Federal Deposit Insurance Corp. (FDIC) announced a 'systematic' loan modification plan. The plan is initially aimed at helping 4,000 IndyMac borrowers who are either seriously delinquent or have defaulted on their loans, and then later extending help to thousands beyond that number.

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