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Non-Mortgage Regulation
» Reducing Loan Payment Was More Effective Than Cutting Principal During Financial Crisis: JPMCI
Reducing Loan Payment Was More Effective Than Cutting Principal During Financial Crisis: JPMCI
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Non-Mortgage Regulation
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A recent report from the JPMorgan Chase Institute found that payment reduction was the most effective form of post-crisis loan modification, and a 10 percent drop in the mortgage payment lowered default rates by 22 percent.