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Bank of America Hits Another Bulls Eye - Another Foreclosure!!!
After notification that their home is going to foreclosure, Gail writes:
"This seems to me to be a bogus excuse."
And, what was your first clue????
No one remembers because they probably don't want to take the word of a simple minded real estate broker, but on many occassions, I have written. . . .
"BANKS DO NOT WANT TO MODIFY MORTGAGE LOANS.  They make more money with a foreclosure."
No one believed me then.
No one believes me now.
I have gotten many comments disputing that obvious fact, WITHOUT SUPPORTING FACTS TO THE CONTRARY.
All I can say is - show me the FACTS. 
When a mortgage modification makes more sense than a foreclosure, the FACTS tell the truth.
SEE: 
Where Is The Real Story??? Is It A Short Sale Success? Or, A Loan Modification Failure? A Rant!!
GEITHNER ADMITTED THAT ONLY A FRACTION OF MONEY FOR MORTGAGE MODIFICATIONS WAS SPENT!
80% Of Mortgage Help Requests Get Rejected In Florida
PRINCIPAL WRITEDOWNS??? OR ANOTHER TRANSFER OF TAXPAYER MONEY?? BANKS NEVER LOSE!
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After three years of filling out loan modification paperwork and sending it in, I was informed via a phone call today from Bank of America that my loan modification ... more

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