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“private”

22% of private mortgage mods redefault

By Tami Luhby, senior writerSeptember 24, 2010: 4:49 PM ET NEW YORK (CNNMoney.com) — Banks have been ramping up their mortgage modifications, helping out troubled borrowers who can’t qualify for President Obama’s foreclosure-prevention program. Too bad these homeowners redefault at more than twice the rate. Nearly 11% of mortgages modified under the government’s Home Affordable [...]