A Mortgage Mod Happy Ending

Mortgage modifications were going to help up to four million Americans save their homes, remember? That was the claim of the Obama Administration when it announced its Making Home Affordable program in early 2009. Yet more than three million applications later, only about 100,000 mortgages have actually been modified under the widely-vilified program.

But what about those 100,000, the lucky folks who actually had their terms modified? For my friend Ralph, it is a story with a happy ending.