Very few trial loan modifications made permanent
According to this WSJ article, very few of the 650,000 trial loan modifications issued by banks have been made permanent. It is expected that only 25% to 35% of trial loan modifications will be made permanent. Are trial loan modifications just a way to get more money out of homeowners before foreclosure? It sure looks that way.
Foreclosure, Loan modification | admin December 3, 2009
