If You Believe In Borrowers Getting A Modification To Protect Them From Foreclosure, I Have A Unicorn In My Basement I Might Be Willing To Sell

They're leaving you nothing and nowhere to go

Just put you in the corner like an old banjo
The strings are breakin' but you can't say no
You're runnin' with the devil and it's touch and go

                                               Emerson Lake and Powel (Running with the Devil)

by Danny Hammond
of the 3/4 Court Press

I am getting an increasing number of pleas for me to help people who think they are in the middle of a Modification of their loan. I thought we were done with that in 2012. Modifications usually start with a 3 month "trial" to see if you can now pay on time. 

Everyone that calls me passed this part according to the rules given to them. Pay 3 month on time. Then the wickedness sets in. All sorts of "reasons" begin to be received by the Borrower regarding why their trial failed.  

Most are absurd.  They are relating experiences like telling the Borrower he did not pass the 3 months of payments, when he did.

Or the Borrower did not respond in the right amount of time. 

Or the Borrower used the wrong means of notification to the (usually the Servicer), whatever that means at that moment.   Or the Borrower used the wrong form, and the particularly nasty, your Servicer has changed and you must start over.  

My client right now who we are about to file into state court, was told every one of these things above.  She is stilled scared to death it is going to be a problem in the Lawsuit or Petition as a lawsuit is called in Missouri.  Read More

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