Sometimes you just have to wonder why. Here's an excellent article from Ilyce Glink:
There’s a meeting of the Mortgage Lenders Club going on at Treasury early this morning.
I don’t think bagels and cookies are being served.
Mortgage lenders are being told that they’re not doing enough to help homeowners who are underwater with their mortgages or who have lost their jobs and can no longer afford their payments.
Really? Lenders aren’t doing enough to help? Whatever gave Treasury that idea?
Could it be that of the 650,000 so-called trial loan modifications only 2 percent have been made permanent? My email inbox is filled with questions from homeowners who want to know why their permanent loan modifications have higher monthly payments and the same interest rate as their original loan? Take a look at my “Are You In Loan Modification Hell” post and the nearly 100 comments that have continued the conversation.
Are mortgage lenders doing enough to help homeowners facing foreclosure?
What would you like to see change?