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News for Real Estate Investors and Landlords — principal forgiven

Principal Reduction Loan Modification

Posted by 15789465 on

As I've been advising people for several years, you are probably going to be able to get the best loan modification terms if your loan was previously owned by a now-failed bank.  That is because of the FDIC involvement. The exact reasons are complicated, and too long for this blog. Call or write if you are interested. I'm going to give you some details below regarding loan modifications involving failed banks.  Failed banks that were once active in Alabama include Amtrust, Capital South, Colonial Bank, First Lowndes Bank, New South Federal,  Nexity Bank, People's First Community Bank (based in Florida),...

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