Increasing home prices have changed the way banks are now dealing with distressed homeowners. They are no longer willing to hold up the foreclosure process. The banks will only stop the foreclosure once they have issued an approval. All of these temporary loan mods will be foreclosed on if you miss payments...
So we bailed out banks for there losses.....They stagered foreclosures to increase demand which made home prices increase significantly....Now they are giving you a loan mod. so they can foreclose at a future date FOR A PROFIT....
Ingenious!
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