Banks continue to drag their feet, pretending to offer loan mods but doing everything to avoid permanently changing a loan. More from the front lines….
Here is why the Loan Modification program is not working.
It seems that banks were perfectly happy to offer trial loan modifications in order to cash “Obama Plan” checks, but are very reluctant to make those trial mods permanent. Couple that with a few trial payment checks from the homeowner and it makes a nice few bucks on an otherwise hopeless loan. All this takes [...]