Bubble Meter: Mortgage modifications failing

[Administrator]

According to the Comptroller of the Currency, John Dugan, who gave a preview of his latest Mortgage Metrics report: “After three months, nearly 36 percent of the borrowers had re-defaulted by being more than 30 days past due. b.../b

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(Source: Google Blog Search)

[applesauce]

Shows how important it is to pay your bills on time.

[Mortgageexprt]

Homeowners who fall behind in their mortgage but recover from a hardship and are able to get back on track often attempt to work with their lender to qualify for a plan to make up the missed payments. But often, they are disappointed in how poorly the mortgage company responds to their requests for help, even when the borrowers have cash on hand to pay down the arrears.

But the bank never returns phone calls, no matter how many voice messages are left, yet collections calls may continue unabated. It would almost seem illegal for lenders to act this incompetent, but they do it every day and pass up legitimate chances to allow financially stable borrowers to get back on track and stop foreclosure before the house is auctioned off or an eviction date is set

[Benj]

no, banks dont give it