Monday, November 8, 2010

Homeowners Claim Lenders Aren't Honoring Loan Mods

Talk about pulling the rug out from under us.  Borrowers across the nation are claiming that lenders offered them loan modifications under the Home Affordable Modification Program, set up lower payments for borrowers, and then later decided that the lower payments were not acceptable, despite the fact that the homeowners were making their required payments on time.  The lenders then reverted to the old payment and foreclosed on those who were unable to pay the higher amount.  Nice.  If the claims are true, the evidence mounts that lenders still refuse to play fair with the American people and our government continues to allow it.  

No comments: