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Modification of Loans

posted by Anonymous on 1/29/12 7:39am
Housing

President Obama,

I thought the government was making loan modifications for home owners easier but I have found that the situation is quite the opposite.

This country still needs help paying mortgages and dealing with the banks who started this mess!

Thank you.

Comments

On 1/29/12 7:49am

Answer if you please help me understand

By yvonne

On 2/06/12 8:43am

Hello and good day,

I have been unemployed from the financial community for 1 1/2 years and have now found employment with a reduced income. I did apply for HAMP and have been denied based on insuffiencent income; which was incorrectly stated on my denial letter. I have contacted my mortgagor (Chase Home Lending) to informed them of the incorrect income that was based on my denial. But, my belieft is that no matter what promise my circumstance is I will still be denial because my mortgage is insured with PMI. Which means the lender will get paid when this mortgage is in default. So, why would they would to modifiy a mortgage when the are guaranteed a certain recompense?

 

By Serita Thomas

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