http://loanmodificationexplosion.com/2009/10/do-loan-servicers-really-prefer-foreclosures/ Your guide to loan modification News Thu, 18 Mar 2010 15:47:29 -0700 http://wordpress.org/?v=2.8.4 hourly 1 http://loanmodificationexplosion.com/2009/10/do-loan-servicers-really-prefer-foreclosures/comment-page-1/#comment-1428 Andrew Feldman Tue, 16 Feb 2010 21:28:44 +0000 http://loanmodificationexplosion.com/?p=669#comment-1428 All that as been said here in banks not wanting to work with us is so very true. US Banks has been jacking me around for a year now. I hope the government will fix this soon before we all become homeless. All that as been said here in banks not wanting to work with us is so very true. US Banks has been jacking me around for a year now. I hope the government will fix this soon before we all become homeless.

]]> http://loanmodificationexplosion.com/2009/10/do-loan-servicers-really-prefer-foreclosures/comment-page-1/#comment-834 Jen C. Mon, 02 Nov 2009 14:50:50 +0000 http://loanmodificationexplosion.com/?p=669#comment-834 This report hits the nail on the head. I have spent the last 15+ months trying to get a loan mod on my mortgage. Due to a reduction in income, and an increase in the interest rate of our mortgage, we could no longer afford the payments. I have gone through my finances with a fine tooth comb and know what is affordable for my family. Yet, each time I get close to a mod, it is an even higher payment than the one before. Then, shortly after I tell them there is no way that is possible, they send me a letter stating that based on my finances, I can't afford the modification. REALLY??? I am working with a non-profit organization right now, and unless something drastic happens in the next week and a half, I expect my family and I will be moving to a rental property in the next few months. I have made peace with it, after all, greed will eventually take them down. This report hits the nail on the head. I have spent the last 15+ months trying to get a loan mod on my mortgage. Due to a reduction in income, and an increase in the interest rate of our mortgage, we could no longer afford the payments. I have gone through my finances with a fine tooth comb and know what is affordable for my family. Yet, each time I get close to a mod, it is an even higher payment than the one before. Then, shortly after I tell them there is no way that is possible, they send me a letter stating that based on my finances, I can’t afford the modification. REALLY???
I am working with a non-profit organization right now, and unless something drastic happens in the next week and a half, I expect my family and I will be moving to a rental property in the next few months.
I have made peace with it, after all, greed will eventually take them down.

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