Monday, June 4, 2012

Modification

"One topic that is hotly debated as a way out for homeowners is the loan modification. This traditional route involves a homeowner making a hardship claim in writing to a bank, lender or financial institution that services or owns their mortgage. There is currently no published data available publicly that can show the approval rate of a loan modification."

From an article on short sales; and therein lies the problem of modification, the accountability of banks to actually work with homeowners, there is none.

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