Loan Modification Sites » refiance a loan http://www.loanmodificationsites.com Tue, 27 Apr 2010 22:26:59 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 New Toxic Asset Plan To Help With Loan Modification http://www.loanmodificationsites.com/new-toxic-asset-plan/ http://www.loanmodificationsites.com/new-toxic-asset-plan/#comments Thu, 26 Mar 2009 18:17:46 +0000 admin http://www.loanmodificationsites.com/?p=132 timothy geithner loan modificationOn Monday, Secretary Geithner unveiled the new toxic debt plan, that could result in over $1 trillion in spending to assist in the acquiring of toxic debt.  The plan was announced several weeks ago, but was unveiled in more detail on Monday, causing the stock market to rally 500 points.  The plan involves creating a “bad bank” entity, that would work much like the RTC did back in the 90’s.  Toxic assets will be transferred to this “bad bank” and then the Government will look to partner with private equity groups in disposing of the assets.

In order to make the assets desirable, the government is looking to offer incentives to private equity groups by financing the properties, giving tax incentives, and big discounts on the appraised value.  Bank stocks rallied as the new plan hopes to provide a big boost to their balance sheets.  This is big news for those seeking loan modification or a mortgage refinance.  As toxic assets are reduced and able to be written off of bank’s balance sheets, this makes them more able to work with current loans.  The government is continuing to offer incentives to banks in working with consumers with loan modification or refinance.  Mortgage rates continue to be record low, which has made it a great time to buy or refinance a home.  CLICK HERE TO BEGIN THE PROCESS OF LOAN MODIFICATION!

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