Relevant:
- Judge Dismisses 110 of the Felony Counts Against Southern California Attorney Accused of Loan Modification Scam
- Sen. Merkley's Proposal Seeks to Bring Back First Time Homebuyer Tax Credits, Simplify Loan Mods and Provide BK Judges With Cram-Down Power
- Principal Reductions and Loan Modification without Hardship Requirements - A Response To DeMarco
- Loan Modifications, How To Find Out If You Are Eligible Online
- HAMP: California Homeowner Can't Escape Unwanted Mortgage Modification
2012-10-12 — homepreservationnetwork.com
Notwithstanding that they were broke, the Lesleys didn't ask for a forbearance of any amount of the loan. Instead, they asked to participate in a loan modification program designed to let people with hardships remain in their homes. They owed $350,000 on a home that was now worth probably half that. Not an uncommon occurrence in Southern California. If the hardship modification was granted, the Lesleys could stay in their home, get back on their feet and the investor who owned the note would be made whole. Makes sense, right?''
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