Marketplace Scratch Pad

Hamsters with loans

Scott Jagow Feb 24, 2009

There’s a lot of wheel-spinning when it comes to restructured loans. A bank regulator testified to Congress today that more than half of modified mortgages default again with six months.
I know the President’s goal is get to people before they’ve defaulted the first time, so perhaps this statistic just reinforces the need for that. But it also makes me question how successful any of these loan modifications will be. It still feels like we’re trying to “fix” the problem instead of “solve” the problem. You know what I mean?

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.