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Loan Modification

: Mortgage Lender Implode-o-Meter

Second Lien Holders Hold Modification Seekers Hostage: Is Bankruptcy The Solution?

By Implode-Explode Heavy Industries

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One of the reasons the Obama administration's Making Home Affordable mortgage modification program has not worked as well as hoped is because of uncooperative second-mortgage lenders. Both first- and second-mortgage lenders must sign off before a customer can get a loan modification.

Full post as published by Mortgage Lender Implode-o-Meter on December 22, 2009 (boomark / email).

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