Loan Modifications: Selling Loans Means Being Sold Down the River

As a nation, we want to see loans modified, right? Homeowners at risk of foreclosure certainly do, but they're not alone, right?. The president says he wants loans modified. And the Treasury Secretary too, right? And so do mortgage servicers and investors in mortgage backed securities, so I've been told. Even Fannie Mae, who absolutely cannot stomach the idea of even one dollar in principal reduction, is pro-loan-modification, right?

Yeah, that's what I thought I'd heard and read... just wanted to make sure I had it right.

We all know the process of getting a loan modified falls somewhere between, "stressful but fairly straightforward," to something more along the lines of, "so indescribably infuriating that my husband shot himself in the head." It's quite the range, I understand.''