Gambling on a loan modification

roulette wheel for post on loan modifications

Why is it so hard to get a loan modification? Homeowners in Beverly Hills, Culver City and Westchester would like to know. Are the odds of getting a loan modification similar to hitting a zero on at a Roulette table in Vegas? The short answer: Because there is too much money to be made by lenders with short sales and foreclosures than with mortgage modifications. The video below gives one example. See how One West Bank profits from short sales and foreclosures -- and how taxpayers … [Read more...]