bankruptcy: Mortgage Modification and Short Sale in Connecticut
- 10/25/09 02:44 AM
The current real estate and foreclosure crisis began two or three years ago. Since then homeowners have been trying to modify their home loans. As a result, banks are overwhelmed with loan modification requests and short sale requests. Many banks were unprepared for the number of requests received. All of this equals up to homeowners who qualify for home loan modifications being left in limbo while they wait for answers. Often this process comes at the worst time... in the middle of a foreclosure proceeding. The government did come through to help with this problem, which was President Obama's Home Affordable … (0 comments)
The current real estate and foreclosure crisis began two or three years ago. Since then homeowners have been trying to modify their home loans. As a result, banks are overwhelmed with loan modification requests and short sale requests. Many banks were unprepared for the number of requests received. All of this equals up to homeowners who qualify for home loan modifications being left in limbo while they wait for answers. Often this process comes at the worst time... in the middle of a foreclosure proceeding.
;)
;)
