Homeowner Affordability Programs are NOT Working

Banks refuse most loan modification requests and continue to practice illegal and predatory lending practices. We are about to lose our home due to after almost two years attempting to modify our negative armotization option ARM loan with not success, even after hiring a modification attorney.  Our balance continues to grow and the home is worth $300,000 less than what we paid.  Aurora Loan Services just tells us to let the home go because they will not help us. We qualify for HAMP, yet ALS has not even offered it to us. They said we do not qualify for anthing as they are basing the 31% of our gross income on the MINIMUM option ARM payment and not basing it on the principal, interest, taxes and insurance. The banks continue to control and dictate the market, thus the economy.  The programs are not helping. For those few that are allowed to go into the 3 month trial modification program, most are later denied for a modification.  Nothing is changing!!!!!!!!!!!!!!!!!!!!!1 Julia in California jadewhitehead@yahoo.com