Who is Wrong; Client, Financial Institutions or Regulatory authority?

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There was too much hope after obama administration started HAMP Modification plan and till now small pie of homeowner got trial modification. But now, hundreds of thousands of troubled homeowners who are making lower mortgage payments on a trial basis are at risk of being kicked out of President Obama's foreclosure-prevention program. During the review period, servicers must determine whether borrowers have made all their payments and have handed in all the necessary paperwork. Those who haven't will get letters giving them 30 days to comply. The goal is to clear up the backlog of borrowers stuck in trial modifications, in which a homeowner's monthly payments are lowered to no more than 31% of pre-tax income.

Despite getting trial modification plan, complied the modification terms and completing all the paperworks, about 450,000 homeowners may face the prospect of foreclosure strictly on account of documentation issues. Paperwork has proved a major stumbling block for the president's foreclosure-prevention program. Homeowners complain that their servicers continuously lose the documents they send in, while financial institutions argue that borrowers have not been sending in their paperwork.

So, who is wrong?

The Client;who made three trial payment regularly, completed all paperworks?
The Financial Institutions; mismanagement of documents and always threatning for foreclosure?
The Regulatory Authority?

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