Relevant:
2010-07-20 — thetruthaboutmortgage.com
"More than 40 percent of the trial loan modifications started under HAMP were canceled as of the end of last month, but permanent mods totaled nearly 400,000, according to the latest Treasury report."
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Comments:
catherine at 04:58 2010-07-21 said:
THEY were actually bragging on CNBC that the back end ratio of people who got MODS was mid- 60s, aaaaaauuuuuuggghhhhhhhhhhhh 65%............THESE IDIOTS WERE BRAGGING!!!!!.............. because those ratios were better than where the people were before the MODs...........can we say 'KICKING the can down the road!" and the time and manpower and money WASTED on this trickery............ Permalinkmortgagemess at 21:07 2010-07-21 said:
It makes sense that they would be cancelled..since many were given based on "STATED INCOME!!!!"...LoL..you would think that AFTER ALL OF THIS that term would be banned!!!...like as before...when it came to PROVING the income the borrower SAID they made..the proof could not be produced...hence...no loan mod.... Permalinkadd a comment | go to forum thread
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