Mortgage Modifications And Servicer Abuses

The AP is reporting on mortgage servicer abuses and how it affects the government’s loan modification programs. Here is the story.

MSNBC.com is reporting on the slow pace of loan modifications.

Despite this, mortgage loan modifications remain a very viable alternative. My law firm is working on many of these right now to try to help homeowners. The problems with the servicers and the slow pace only confirms that a homeowner is better off having a lawyer assist them. Only a lawyer will be able to provide legal advice regarding other alternatives such as Chapter 13, deed in lieu, litigating in the Supreme Court, short sale, etc. Every homeowner seeking a modification should have a backup plan in case their modification is not approved.