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Loan Modification

: Loan Modification & Home Loan News

Months of trial loan modification limbo, then foreclosure

By Moe Bedard

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Ben Mayfield believed he had a deal that would save his dream home from foreclosure. His mortgage servicer, GMAC, slashed his monthly payment about 70 percent last July after he asked for a loan modification. Mayfield, who is 57 and a car salesman, made six months of payments, as agreed, according to bank records he shared with [...]

Full post as published by Loan Modification & Home Loan News on March 15, 2010 (boomark / email).

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