Best Performing Loans Report

This report dated March 12, 2009 shows the best performing loans at Banks and Thrifts in 2008. It is divided by class from commercial loans to credit card debt.

Commercial loans are the best performing loans held by banks even though the percentage is on the rise for 2009.

Fannie Mae and Freddie Mac Sponsered Programs

This is a good sign that the banks are going to be communicating more with homeowners. Banks will be paid $800 per file to help homeowner’s who qualify rework some loans through loan modifications. The homeowner has to have decent income to qualify. The homeowner may be in pre-foreclosure stages. I believe one of the problems is the huge amount of files that the banks have on their hands. http://finance.yahoo.com/loans/article/106138/Relief-Starts-to-Trickle-to-Troubled-Homeowners

Hopefully, many homeowners may be able to contact the banks and many homeowners who have avoided communicating because they have given up may have a chance on saving their homes.