The Fannie Mae way to deal with delinquent loans: [url]http://tinyurl.com/3269q9[/url] "...servicers can now offer an unsecured, personal loan that will enable a qualified borrower to cure the payment default on a mortgage loan.." "Fannie Mae anticipates that [this service] will reduce the number of delinquent mortgage loans it purchases from its mortgage-backed securities trusts and the fair value losses it would record in connection with those purchases..." In other words, get the losses off the books.
