MBA Reports Success in Contacting ‘Hurricane’ Homeowners, 80 Percent Respond to Industry Plea, Says Group Official
January 12, 2006
An estimated 80 percent of borrowers affected by Hurricanes Katrina and Rita have contacted their mortgage lenders or servicers to work out loans on Gulf Coast properties destroyed or damaged in the disasters last year, according to the Mortgage Bankers Association. The surprisingly high percentage of borrowers who got in touch with their lenders or servicers was the result of an intense communication campaign waged by the MBA and large lenders to persuade affected…