I'm sorry, but this is just plain wrong. I don't care what explanation banks and other lending institutions might give, it is just plain and simply WRONG!
What I'm steamed about is a new report that reveals that, in most cases, mortgage loan modification programs (provided you can actually convince your lender to modify your mortgage....not the easiest thing to do!) are actually sinking people deeper underwater than before!
Now, mortgage modifications are supposed to make paying for your home easier, right? Make it possible to keep your home and not foreclose, right?
Well, think again.