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Home » Store » News » Terrorist Attack Means Challenge For Subprime Mortgage Servicers

Terrorist Attack Means Challenge For Subprime Mortgage Servicers

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Last month’s terrorist attacks on New York and Washington, DC, have led some subprime servicers to make changes to their foreclosure and collection policies. Option One Mortgage, for instance, has already announced "accommodations" for borrowers directly affected by the attack. Specifically, the company will extend the normal collection timeframe for thousands of borrowers near the disaster site. Loans from borrowers living within that area will be handled by specially trained counselors, the company said. Option
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