Loan Mods Don’t Work

There are many people out there that believe wht the banks are telling them about Loan Modifications.  People want to believe the banks are “working” for them but the stark reality is they are not.

If you are being told you can modify your loan – you are being lied to.  The banks make more money by foreclosing on you then on working with you.  Nothing personal here, just business!  But while you are being told by some sweet talking “collection agent” who tells you they are “the bank”, the foreclosure process continues.

Here is a report published in the Huffington Post, Obama’s Loan Modificaton Plan ‘Destined To Fail'” Amherst Securities (Transcript)

In Congressional testimony today, a mortgage market expert offered scathing criticism of the Obama administration’s plan to help distressed homeowners, arguing that the plan is “destined to fail.”

Read the full article…click here

Remember:  Most actions of foreclosure by “the bank” are not legal.  The foreclosing party does not have the legal right to foreclose and in most cases do not own the note as they claim and as is required. 

Judge Skinner of New York, invalidated a mortgage giving the homeowner their home “free and clear”.  The basis of his decision was that the borrowers were getting an unjust runaround by the bank.  In addition he found evidence of fraud in the banks claims and testimony.

Fight your foreclosure.

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