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http://money.cnn.com/2012/06/22/real...m?iid=HP_River
NEW YORK (CNNMoney) -- Reducing the amount struggling homeowners owe on their mortgages is proving to be a more effective way to prevent foreclosures than other methods, such as reducing interest rates or postponing payments, a new report finds.
In a report presented this week, Amherst Securities Group said that when principal reductions brought mortgages near the home's market value, borrowers were substantially less likely to fall behind on payments againand lose their homes.
NEW YORK (CNNMoney) -- Reducing the amount struggling homeowners owe on their mortgages is proving to be a more effective way to prevent foreclosures than other methods, such as reducing interest rates or postponing payments, a new report finds.
In a report presented this week, Amherst Securities Group said that when principal reductions brought mortgages near the home's market value, borrowers were substantially less likely to fall behind on payments againand lose their homes.