The Top Seven Myths about Loan Modifications
Posted: under loan modification.
Tags: loan modification
Has Anyone EVER Heard of a Real Person Actually Getting A Mortgage Loan Modified??
Posted: under Financing, Foreclosure.
Tags: loan modification
I haven’t.
I see a bit of smoke coming from the White House and it seems tons of ‘loan modification’ law firms have popped-up but I have not seen a loan modified. And I’ve worked with several people in attempting to do this but the banks won’t do it. Here’s another piece describing the lack of help available. Great quote from Treasury Department spokeswoman about non-success:
A Treasury spokeswoman, Jenni Engebretsen, confirmed that homeowners like Ms. Ulery — current on their mortgages yet grappling with a hardship like unemployment — were eligible for loan modifications under the program. She said mortgage servicers had offered to modify more than 100,000 loans since the department announced the program.
But how many loans have been modified? Ms. Engebretsen declined to say, noting that the Treasury was working with mortgage companies to “fine-tune reporting systems.”
So how many loans have been modified? My answer, virtually none.
Comments (9)
Jun 03 2009
