What is the truth about Loan Modifications and Making Home Affordable?

Sept. 7, 2009 - PRLog -- Why do we keep hearing in the news every day that the economy is looking better when one minute we are bailing out the banks and several months later they are proclaiming 41% profits like Wells Fargo.  Then we hear that bonuses to these bank executives are about to be paid, when homeowners are still struggling to get a Loan Modification.
Then when you talk to the homeowner, they can’t seem to get a loan modification from their bank, are losing jobs, are upside on their mortgage, and can’t afford their mortgage payment anymore.  I assume these wonderful profits that the banks are making are going to the executives and not towards loan modifications or loan work out programs to help people save their homes.
Homeowners are stealing from credit cards, raping their retirement, and borrowering from friends to just make a mortgage payment to stay in their home.  They call their banks constantly asking to qualify for Obama’s Making Home Affordable or even HAMP, or heck why not any other Loan Modification Program.
Time and time again, more than not, the homeowner is transferred to another resource in the bank, disconnected, or just lost in the maze and not helped with a loan modification by their bank/loan servicer.  It took an act Congress to just define Making Home Affordable (MHA) and other Loan Modification programs.  Now it is taking an act of congress to actually get a Loan Modification under HAMP or Making Home Affordable.
As foreclosures continue to rise and more people are losing jobs, the reality of our economy coming from Walls Street is not the reality of the economy coming from Main Street.  A vast majority of Americans are underwater on their homes, can’t afford their mortgage payments, and have credit card debt is increasing at an alarming rate.
The major concern is that when homeowners call their banks they are told they have to be late on their mortgage to qualify for Obama’s Making Home Affordable.  They are also told that they cannot have any equity in their homes to qualify for this type of Loan Modification.  Both of these statements are not true; as the banks are suppose to provide a Loan Modification under these situations.  It is just one more lie and one more way the banks are not qualifying homeowners when they should.  It seems like one more excuse.
If a homeowner doing a loan modification on their own is actually lucky to make any progress on their own, then the bank takes their time completing the loan modification. There are stories that homeowners are waiting 9 and 12 months for a loan modification.
What is going here!  The best way homeowners are getting help is thru Attorney Loan Modifications, as the Attorney’s are putting pressure on the banks to modify home loans and stop foreclosures.  This process should not be so difficult; at least the Attorneys are successful with the loan modifications.  If you are at your last straw, check with an Attorney Loan Modification Company that offers 100% money back guarantee for help.

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