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Feds estimate off by over 90% regarding loan modifications…and we pay these people?

With nearly a 1/3 of Michigan home owners owing more than their homes are worth (Upside Down) and 10% in foreclosure, what are we to do?  Well the  $75 Billion Home Affordable Modification Program (HAMP) has not done it’s job, so modifying your loan may not be a viable option.  Out of a projected 3 to 4 million home owners that this program was supposed to help modify their mortgages, as of February 2010,there had only been 261,000 who were successful in doing so, that’s only 8.7% of the people the “Feds” said they were projecting would be helped.  Just to put that into perspective, (somebody check my math, my calculator won’t go that high) that means we spent over $280 million dollars for each home owner that was helped.  This is our money we’re talking about here, and I don’t know about you, but I sure would like to know where that money went… wouldn’t you?
Anyway, there are some who were successful in getting these modifications, so how can you increase your odds?  Following is my version of a list of tips I found in an article by Edmund L. Andrews, author of “Busted – Life inside the ... more

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