This article in the New York Times really captures the miserable experience of most of my clients trying to negotiate a loan modification. Click Here
This article in the New York Times really captures the miserable experience of most of my clients trying to negotiate a loan modification. Click Here
In an earlier comment I said that a loan modification might be helpful to some homeowners, but what I’ve seen the last six months does not support my earlier comment. I am surprised at how quickly these modifications are falling apart, or how little they actually help a homeowner.
Maybe Trustee payment and oversight of mortgages in bankruptcy will get the mortgage companies to work on how they do business generally!
[...] (because of the sheer inability of mortgage companies to cope with how many are needed see my last post ), but getting a modification may result in your credit score dropping anyway. See today’s [...]
Interesting!
The loan modification process can be frustrating and confusing for many distressed homeowners. But you have to know what exactly is loan modification. A loan modification is a permanent change in one or more terms of a borrower’s home loan.