Foreclosure loan modification flaws reported

By Neil Crane of The Law Offices of Neil Crane LLC posted in Mortgage Modification on Friday, December 4, 2015.

Special Inspector General Christy Romero's recent report shows mass level incompetence in the government's loan modification process - a reality known to millions of struggling homeowners across America. The Report indicates just what we all know to be true - the banks have mistreated troubled homeowners through incompetent and abusive practices, rejecting millions of loan modification applications since the program's inception in 2009.

The Report cites widespread delays, lost paperwork, inept processing and millions of homes lost. This outrageously poor result was entirely predictable in a program advertised to help homeowners, yet fatally flawed from the start by two initial and obvious assurances of failure:

 

  1. The program was voluntary for the banks; and
  2. The process was run by the banks.

 

No remedial program should be run by the perpetrators of the initial fraud. Only the symbiotic and toxic partnership between the American government and too-big-to-fail banks could create a $75 Billion Dollar program designed and run by the perpetrators. We now have the dismal results and vacant, "For Sale" neighborhoods to prove the foreseeable and tragic results.

Save yourself with the help of experienced legal experts.

For more information and highly experienced assistance with the dangers and advantages of these government programs, call the loan modification attorneys at the Law Offices of Neil Crane today at 203-230-2233 or toll free at 1-888-249-3027. Put our experienced team to work for you.