CNBC.com Article: Mortgage Modification Overhaul Sought by States
CNBC.com Article: Mortgage Modification Overhaul Sought by States
States are pushing major banks to alter the foreclosure process and give the government sweeping authority over how mortgage servicers deal with millions of Americans in danger of losing their homes, the NY Times reports.
Full Story:
http://www.cnbc.com/id/41924910
This article highlights a situation that still needs to be addressed. That being mortgage modifications. Most homeowners attempting a mortgage modification are unsuccessful and in many cases don’t understand why in fact they were denied. I have heard where in some cases the bank proactively reached out to homeowners and offered modifications unsolicited.
