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I have learned that for those facing Foreclosure, the banks are doing loan modifications at about a ...

Posted by groiny (aka groiny) Mar 5 '12, 09:38

6% clip.

Meaning that ONLY 6% of the people who apply to them for this option, actually get modified.

I was rejected for this, even though I am currently paying 6.875% and unable to refi because of the property value versus amount owed difference.

Help me Obama, you are my only hope!

Responses:

From yesterday's paper... couple who bought a $1+ millionaire home five years ago have never made a payment... -- (link) - DonHomer Mar 5, 09:46 11
- I've done a great deal of research on people who are upside down and the smart choice is really to stop paying. - Mop (198 lbs) Mar 5, 10:30 1
  - that does not work here, for me at least. - groiny Mar 5, 10:33
- I hate these people. - Will Hunting Mar 5, 09:51 8
  - Yeah! -- nm - LiarLoan Mortgage Lender Mar 5, 09:56 4
    - 5 minutes, you're slacking. "We didn't set out not to make a payment." Then...pay. - Will Hunting Mar 5, 10:03 3
      - it takes two to tango. nobody forced the banks to knowingly make these shitty mortgages to buyers they knew couldn't pay - pixitude Mar 5, 10:08 1
        
        no one is in the right here. everyone deserves what they get. - znufrii Mar 5, 10:12
      - you play with fire, you get burned. - znufrii Mar 5, 10:07
  - Yeah. It's sickening. -- nm - DonHomer Mar 5, 09:53
  - yeah, I kinda want them to burn to death in that house. nm -- nm - groiny Mar 5, 09:52 1
    - but they have all this faith.. - tRuMaN Mar 5, 10:21

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I have learned that for those facing Foreclosure, the banks are doing loan modifications at about a ...

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