Loan Modifications: 500,000 or 1,200? All right… ENOUGH is ENOUGH

Chaffed By It All at 01:51 2009-10-29 said:

So glad to read well thought out ,ACCURATE,articulate commentary on our turbulent times. I've always said and am still convinced, the banks are the Devil in Disguise.. This is a MUST READ for anyone who can stand the painful truth!!! Permalink

mortgagemess at 02:09 2009-10-29 said:

How many completed by Foreign ownedDeutsche Bank, one of the largest holders of residential mortgages in the USA.....00000000000000000000000000000000000000000000000!!!!! Permalink

Hardyman1966 at 02:26 2009-11-02 said:

Citing Wells Fargo as a prime example, the HAMP-thing that was decreed by Washington is such a colossal joke that it makes sub prime lending sound reasonable. Everyone is making it up as they go along, the rules and procedures change daily and since it came from Washington with parameters that cannot be wavered from, your only choice is to string borrowers along through the entire tedious process with no guarantee that they will receive final approval even after making the preliminary 3 trial payments. You also can't decline people outright who have no business applying for a modification in the first place, such as a credit score of 780 with not 1 single late payment ever. If you do get approved, you'd better plan on dying in your home, otherwise you're going to be right back where you started in a few years. All this is doing is pressing the "pause" button. It does not address property value or LTV, it does not address credit scores or outstanding judgments or charge offs, it does not address assets or lack thereof. As usual and once again, the jackasses in charge way up at the top of the pyramid have NO idea what is going on in steerage.

After not working for over 2 years, this was something I walked off of after less than 3 weeks. I'd rather be unemployed. And I got a better offer the next day anyway. :) Permalink