House Financial Services Committee Chairman Barney Frank, D-Mass., has resumed his push for financial institutions to write down the second mortgages they hold.
In a letter to the CEOs of Bank of America, Citi, JPMorgan Chase and Wells Fargo, Frank wrote that holders of second-lien mortgages are now a principal obstacle to many loan modifications. First-lien [...]
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The wealthy have money problems, too — yeah they do.
Even refinancing a mortgage for their fancy digs or getting a new loan can be near impossible these days thanks to skittish lenders. And the higher the loan value, the more they worry.
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Still, that people with high six-figure incomes, stellar credit histories and [...]
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