Does a Loan Modification Make Sense For You?
In this video post Jason Stewart ask the question that a lot borrowers do not consider - does it make sense to even try for loan modification? Loan modifications for the majority of homeowners is not a real financial deal. It is option a temporary solutions that adds payments on the back of the balance leaving the borrower in a worse position than prior to the modification. Check it out.
Many People waste a lot of time and effort trying for a loan modification when they shouldn't. These people are usually acting on emotion rather than logic. Often times, logic kicks in later and that’s why 85% mod loan goes back into default.
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