More Evidence That Modifications Don’t Work…

Mortgage News Daily Reports:
HAMP Report: Few Loan Modifications Made Permanent

The Treasury Department released data Thursday on activity in its Making Home Affordable (HAMP) program during the month of November.  As expected from earlier comments made by Treasury officials, borrowers continued to enter the program under trial modifications, but the rate of permanent modifications remains well below expectations.

Cumulative figures for the program by the end of November show participating servicers had sent a total of 3,137,548 requests for financial information to borrowers thought eligible for the foreclosure prevention program and had extended 1,032,827 invitations to participate in a trial modification program, up from 920,000 in October. 

There are currently 728,408 borrowers actively participating in loan modifications, however, only 4.3 percent of those modifications, or 31,382, have been converted to permanent status. (emphasis added)

While these modification scamps continue so do the “illegal” foreclosure acitions being taken by the same servicers that participate in the HAMP program.  What we have is a scam feeding illegal activity seemingly sanctioned by our government.

The only avenue we have left to fight back is within our judicial system.  Some in that system – as reported here in the past – see the truth and are willing to uphold the laws in favor of justice not in favor of the criminal banks.

While not all judges around the country “get it” there is evolving enough court decisions to make precedence which can be used in the appeals process.  Oh yes, if you lose your court battle initially YOU CAN APPEAL the decision.

Appealing a court order decision for foreclosure summary judgment is not talked about very often but in fact should be.  We here at TFD will begin to do so.  Your fight is not over, it may just be the first round.  There is another round you are ENTITLED to.  For more information on appeals contact an attorney which is always your best avenue for defense.  For those that cannot afford it there is information available in Law Libraries contained in most court houses and of course the web.

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